Death Penalty (EQ2)  

While many would argue that EverQuest II has no death penalty there are still a few things you'll have to cope with.

Consequences

• You will temporarily be running below your normal abilities.
• Most of your buffs and item effects will need to be recast.
• Every death your armor and other equipment takes damage (10% for most armor, 5% for Fabled). If it gets to zero you're effectively running around naked. You'll need to pay a mender to repair your gear.
• You'll receive experience debt, which you must work off before again receiving full credit for your adventures. You can "sleep off" debt simply be being offline.
• Unless another player revived you, you will probably come to far from where you died.

Tutorial Text

The <Know Your Fate> NPC in the new player areas has this to say about death:

EverQuest II Wikibase™