The most common and most likely answer to this crossword clue is the 6 letter word AIRBAG
I've seen this crossword clue in Independent
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More clues leading to the result AIRBAG
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The straight part
We know that "that’s deployed to save a life" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case that’s deployed to save a life = airbag.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does AIRBAG mean?
AIRBAG noun- A protective system in automobiles in which when a crash occurs, a bag containing nitrogen, formed by the explosive decomposition of sodium azide, quickly inflates in front of the driver or passenger, preventing injury to the head. Side air bags, including the back seat passengers, also prevent injury.
- A similar inflated bag used in performing stunts, etc.
- A person who talks too much; a windbag or gossip.