Enchanted creature has "Cumulative upkeep—Pay 1 life." (At the beginning of its controller's upkeep, that player puts an age counter on it, then sacrifices it unless they pay its upkeep cost for each age counter on it.)
When enchanted creature dies, its controller loses 2 life.
4/15/2013 If a permanent has multiple instances of cumulative upkeep, each triggers separately. However, the age counters are not connected to any particular ability; each cumulative upkeep ability will count the total number of age counters on the permanent at the time that ability resolves.