Herphah:
If you die from a serious wound in the battle, you will revive in a nearby village, but you should pay the cost. It is called the Death Penalty. You may lose some XP or experience the Death Penalty.
If you lose more than the specified limit of XP after you reach level 85, you may possibly experience a level down. B careful to avoid such disaster. Otherwise, you will lose what you've worked so hard to earn.