The difference between surviving dangerous situations and succumbing to them is usually determined by how we each individually handle shock.
Split-second decision making is not just an exercise of reflex, but of objective, practical reasoning, a function that is usually switched off in high-pressure scenarios. Mastering deep breathing can help you retain more control over your faculties, both physical and mental, when you need them most by allowing you to willfully regulate your heart rate, blood pressure and breathing pattern. This skill is integral to grounding, centering and meditation, all three of which are the foundation upon which all of magic practice is based.
This is to say nothing for protective warding and minor offensive spells one can cast when the heat is on. These, however, take a lot of practice to perfect. One ought not take the risk of exacerbating their problems with a backfiring or ineffective spell, least of all when their well-being is at stake.
Allow me to preface my final suggestion: If you or someone you know is injured or sick, CALL A LICENSED MEDICAL PROFESSIONAL. If their status is critical, CALL AN EMERGENCY SERVICE IMMEDIATELY.
The only other 'life-saving' function of magic I can think of is related to herbalism. A working knowledge of herbal medicine can help alleviate symptoms of someone suffering an injury or illness, such as headaches, digestive upset, etc. This can be useful in situations where immediate help is not available, such as in the wilderness. Always do your research first , and always check with the 'patient' about allergies before administering herbal remedies.