Rright after I got out of a passenger seat in sedan I was prompted with "You Are Dead" black screen. The car was not in move and engine was off, no gunshots, simply nothing... Pressed ESC to open the menu but "Respawn" option was blocked so I've reconnected to server and after relog I was back with all my gear and alive right where I've entered the car, not where I left (and not where I've *died*).

TL;DR version: You sometimes see "You Are Dead" screen but your character is alive with all your gear.

Edit #1: Issue is similar to bugreport 29085 but in my case you cannot "respawn" as you technically do not die.