The familiars will protect you .. not sure to what extent but they mentioned it in the livestream. Also there is a spell to call a ghost from the grave and one to bring them to life as well as an immortality potion or spell (?). I'm pretty sure you'll be able to make an elder a spellcaster but if they become exhausted you have to step back maybe. There are also protections from overcharging and it looks like you know if your spellcaster is getting in a danger zone and you can stop doing magical stuff until they are safe again.
I have a feeling I'll be saving daily anyway :D .. from teen to elder.