Freehold focuses on player-driven action and plot. If too many PCs die, the primary driving force behind the story dies with them; thus, it is in everyone's best interest to stay alive. On your end, please avoid taking unnecessary risks—know when to run! There is no mercy given for those who behave foolishly; the line between heroism and foolishness is perilously thin.

Additionally, since hit points are a measure of how good a character is at keeping themselves alive rather than a literal meter for physical punishment, anything that could reasonably kill you in real life will do so here, too, regardless of level or HP. Getting one's throat cut or being stabbed in the heart, etc., is a bigger and more dramatic problem than the rules for called shots and critical hits can often handle, and will be treated realistically. Thus, realistic (or at least reasonable fantasy) solutions will be required.

Characters do exist in the game who have made it their job to provide healing for the community. This may not always be the case, and their powers and competence may vary wildly. It's in your own best interest not to take them for granted or to assume that someone capable of casting raise dead always has the requisite material components lying around—and even if they do, they might (for all kinds of reasons) not be able to spend 5000gp worth of gems on you, personally. An ounce of prevention is worth a pound of diamond dust, after all!

Still, it's certainly possible that a PC who's been killed can be returned to life through magic, even if they couldn't be saved earlier. Dead characters don't necessarily have to stay dead, in a fantasy world. You should consider that that's a possibility, though, and plan accordingly: What will you do if your PC meets their demise and cannot recover? You certainly don't have to leave the game! If your character is unable to return from death (or if you decide it's better for them to remain deceased), the GMs will gladly work with you to design a new PC or otherwise address the situation.