Character Death

The guild takes great effort to make sure characters participating in a mission aren’t overwhelmed, measuring rank based on the predicted difficulty of the mission. Even still, sometimes the worst happens.
Sometimes, despite all odds, you character is overwhelmed or caught in a vulnerable moment and dies.
When a character in Chromatia dies, unless they’ve expressly listed themselves as “Do not Resurrect”, their badge captures their soul and brings it back to the guild hall approximately 1 minute after death, where the character is permitted to “haunt” the guild’s grounds as a phantom until their body (or a piece of it) is successfully retrieved and resurrected. Some of the guild’s more powerful members have access to True Resurrection and can circumvent this requirement but given the expensive nature of the spell and its otherwise limited access, the context of such a deal is between the dead player and the resurrector along.
In any case, abundant access to resurrection magic means that those who do not wish to die before they naturally meet their end after a long life pretty much have the means to come back whenever they see fit. That said, death is still an ordeal. Don’t expect to immediately spring back to your feet after you come back.
The following rules apply to characters who die permanently:

Character Replacement

If you choose to replace your character, you may optionally make a direct substitution at the highest experience level your original character. Any experience points earned beyond this level (IE, as progress towards the next level), is lost.
For example, a 7th level character with 30,000 experience dies. As the milestone for 7th level is achieved at 23,000 experience points, the replacement character may be created with 23,000 experience points. The excess 7,000 points are lost.

Key Items

Most items are lost on death with the character’s corpse, less those retrieved by allies before leaving or on return to the area. The same goes for most magic items. Some items, however, are of particular importance and cannot afford to be lost. These items are typically marked by the character’s badge and returned when the badge does the same, so the item can be safely stored or transfer owners (via the Rollydex).

Non-Essential Gear

Mundane items, wealth, and inconsequential magic items are left behind with the corpse, effectively lost from the game. If the body is found later, the items may be retrieved and considered loot for the finding party. Something something “finders keepers”.