User blog comment:JAlbor/E3 2013: Answers from Elder Scrolls: Online/@comment-24.193.80.255-20130814122905/@comment-3124449-20130814180802

No, it's  an MMO. When you die you can use a soul gem to resurrect yourself, or have an ally use a soul gem on you. There is likely some other option for in case the player does not have a soul gem with them.