Put it on an amulet, and pray you don't get life on it.
That way the item is usable on all the character classes.
The reason you don't want life, is because of a bug where the health increases exponentially.
You'll get 200 health on it, 400, 800, 1600, it'll be an AWESOME item for a while, but then..... It flips into negative numbers.
If you have it equipped, you will drop dead upon login and can never log the character in again.
I don't think that bug ever got fixed yet either.