Forum:Mind Protector + Telekinetic Charger = ???

I run a Psychic Deck (Ducks to dodge chairs being flung angrily) and I was wondering, if I equip Mind Protector with Telekinetic Charger Is Mind Protector Destroyed, because the card states; The Owner of this card has to pay 500 life points per turn, if they cannot destroy this card. But, Telekinetic Charger negates the effect that I have to pay life points... so would Mind Protector be Destroyed?