Convenient phrase used to assure any person being approached by an interested party that they made the right decision in initially turning them down them with the "sorry, I have a boyfriend/girlfriend/significant other of non-specific gender" line. Often followed by a cheeky wink, just to really bring it home.
The war-cry of the asshole.
Guy: "hey gorgeous, do you think I could take you out some time?"
Girl: "aw that's sweet, and I'm flattered, but I have a boyfriend"
Guy: "no sweat baby, I have a wife and three kids at home. I won't tell if you don't"
Girl: "oh gosh really? Thank goodness, that was my main concern. Pick me up at 7, and bring a three-pack of Durex"