Parasurama, is an incarnation and is Chiranjeevi (not Actor).
Beyond Rama and Krishnavataara, Parasurama, is the one who had created Kerala, after giving dhana to Sage Kashyapa. Thats why Kerala his called Parasurama Kshetram.
It is believed, he threw his Axe from the mountain nearby and the ocean withdrew itself to give him the land. They mark five points adjoining the region the axe fell on the land to drive away the ocean. This five points, on which Bhagavathi Temple is constructed are called Pancha Bagavathi Kshetram.
Parasurama, is the Aadhi guru of Famous Kalari, Southindian or more Kerala martial art. He is still belived to be living some where...Someone lucky could get his blessings as well...
Thank you and sorry for the misposting. My grandmother corrected that Parasurama was eternal but his vishnu aspect or 'amsam' surrendered to Sri Rama after their encounter.