You'd also need the ability to revert aging
and you'd have to be able to cure any mental illness.
aging so they don't just unalive immediately,
and wouldn't you go insane if you know you died and are still here?
Truly...
Instead it should be pets get to live as long as humans because if dogs don't die they have to have the sadness of they're owners dieing forever because once they get a new owner they will die so on and so on.
If you take red, that means your pet never dies, so when you die it will be alone. So you should take blue and make it so your pet lives as long as you do and you also get powers so when you die you can keep your pet in the afterlife :D