Magic like Raise/Ascend/Resurrection/Verraise/Phoenix Down do not bring people back to life. When you are "killed" in combat, you are not actually dead, but rather simply knocked unconscious by the injury and are moments away from dying. The spells resuscitate you and restore a enough health for you to continue fighting. If you are knocked unconscious outside of a raid and you let the time go to 0, your blessing of light as a WoL instinctively and subconsciously has you return to the last attuned aetheryte "homepoint".

The status when you "die" reads:

Knocked Out: Knocked Out (K.O.) is the state in which a character has no HP remaining.