Animals have parasites and diseases, so do plants, there are even bacteria that cann dissolve oil spills or plastic or what have you - why couldn't there be a disease living off magic - a magic item could be infected, losing power and speading the plague to other equipment it contacts, while a magic user would slowly lose his powers and contaminate all he works with or casts a spell at...
A race of beings actually IS invunerable while in adolecence. They age, but cannot be killed. A miniority of the race (1 in 20) does not become invunerable, but rather becomes immortal at some point in thier adolecence, and ceases aging while being vunerable to death in all the normal ways. Another minority (also 1 in 20) Permanatly becomes invunerable after adolecence, but ages twice as fast as the race normally does. There is no known way to test for which of the three traits an individual manifests and the three traits cannot mix, as they are tied to the same gene, as it were.