Cheated death

 Cheated Death effect means you got lucky to survive a lethal hit due to a bug in Starbound.

Details
This bug makes you unkillable if you have health regeneration, went down to 0 hitpoints (which should be lethal), but then health regeneration restored it to 1 hitpoint or so, and you survived.

When this bug is detected, "Cheated Death" effect is applied. It prevents you from regenerating for some time, which prevents this bug from repeating over and over.