Yes, I too have heard this. however, it has not worked out to be true in my family. the year my granddaughter was born (April 2008) no deaths. nothing from years before and nearly a year after before there was a death.
then, that's the other thing. my dad died in October 2008, no pregnancies since the above granddaughter---and THAT pregnancy began in July 2007! but, I am waiting....................patiently...................................
edited to add to this:
I did have a dream where I met my above granddaughter before she was born. my daughter was expecting her and both I and my mother and the baby's paternal great grandmother (also a psychic) all had visits from this baby. I had a few visits by her. the great grandmother only got to hold the baby in her 'dream' and didn't recall the sex of the baby, though both my mother and I knew this baby would be a baby girl. first girl born into this family (on fathers side) in 3 generations. so everyone just KNEW it would be a boy--including the doctor our daughter had, as she 'carried' like she was going to have a boy.
but, mom and i were right!
and, like red says, dreaming of a birth is more apt to be a sign of a new project or something new coming to be.