When Liliana's Other Contract
enters the battlefieldShort for entering the battlefield. (CR 700.15), you draw three cards and you lose 3 life.
If you would lose the game, instead
exileTo exile an object, move it to the exile zone from wherever it is. See rule 406, “Exile.” (CR 701.13) Liliana's Other Contract, then return it to the battlefield transformed under your control. // You can't lose the game.
+1: Each opponent loses 1 life.
−4:
DestroyThe only ways a permanent can be destroyed are as a result of an effect that uses the word “destroy” or as a result of the state-based actions that check for lethal damage (see rule 704.5g) or damage from a source with deathtouch (see rule 704.5h). If a permanent is put into its owner’s graveyard for any other reason, it hasn’t been “destroyed.”
A regeneration effect replaces a destruction event. See rule 701.19, “Regenerate.” (CR 701.8) target creature.