What do you know of, that technically let’s you have another life? I’ll add it to the list:
Light of Elune (Alliance Only. Obtained Via: Quest In Ashenvale.)
-If macroed, let’s you become immune to all dmg for 10 seconds, and you’re able to hearth out.
Flask of Petrification (Requires: Level 50 To Use. Crafted By: Alchemy)
-Causes you to become immune to almost all dmg for 60 seconds. Works best in dungeons using the leave group/teleport out feature. Remember, the 60 second teleport doesn’t activate right away, and you may need to re-petri.
-Acts as a threat drop
Target Dummy/Advanced Target Dummy (Requires/Crafted By: Engineering)
-Taunts mobs for a short amount of time, till it dies. Allowing you to run away, for a chance at living.
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Character creation screen gives you an “extra life”. You just lose everything when you use it. 
Or be smart and have a bank alt ready to help.
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Targeting dummy really isn’t a free life, it is a great tool though. For non engineers at higher level, you can get thornling seeds which act in a similar way, and are even an option for SF chars that didn’t take engineering. Limited invulnerability potions are also a good idea, especially for casters to give those tanks a few seconds to get agro back.
Really the only cheat is the petri.
-Mage portal: Set it up before a pull then use it when things go wrong.
-Roach out: watch piratesoftware’s guide for more information. Additional reference: watch “I was correct” guide by piratesoftware for his Ash of Ascension raid.