Type does not have null as a proper value

For the sample program:

type public MyClass(reasonForLiving:string) =
    member x.ReasonForLiving with get() = reasonForLiving

let classFactory () = MyClass("up to you")
let live () =
    let instance = classFactory()
    if instance = null then raise(System.Exception("null is not living... that's why OO languages die from bugs"))
    instance

I get the error "The type 'MyClass' does not have null as a proper value" when I go to use this class as a return value of implicitly typed functions and compare it to null (b/c of compatibility requirements with C# dependency injection I cannot rely on F# option types).

I can easily fix this by changing the null check to:

if instance :> obj = null then

However, I know ("feel") this is completely "wrong". Especially when I consider how MyClass is a reference type that shouldn't need to be boxed (speaking from a C# background).

I've read about "F# Value Restriction" and how it impacts type inference, but I can't seem to gleam how it applies to this scenario.

Q: Is there another way to do this?

Aside #1: I found a simpler method of getting the error…

type public MyClass(reasonForLiving:string) =
    member x.ReasonForLiving with get() = reasonForLiving
let nullMyClass : MyClass = null

Aside #2: I did try System.Nullable without thinking… MyClass is a reference type and not a value type (struct) which Nullable<_> requires. So, just reassures me that I REALLY am dealing with a reference type and leaves me wondering why an object cast suddenly makes this work.

Update: For anyone interested, I used this as one solution for Common Service Locator with the three functions below. Each service requested must support null, so if the service class is defined in F#, you need to add the [<AllowNullLiteral>]:

let private getServiceLocator () =
    try Some(Microsoft.Practices.ServiceLocation.ServiceLocator.Current)
    with | _ -> None

let private getService serviceFactory =
    let serviceLocator = getServiceLocator()
    let service = match serviceLocator with 
                  | None -> serviceFactory()
                  | _ -> 
                    match serviceLocator.Value.GetInstance<'a>() with
                    | null -> serviceFactory()
                    | svc -> svc
    match service with
    | null -> None
    | _ -> Some(service)

let private getRequiredService serviceFactory =
    let service = getService serviceFactory
    match service with
    | None -> raise(MissingServiceException(""))
    | _ -> service.Value