"Decay" is a symbol, a characteristic of man's life, which takes place in a "perishable", vain, sinful, spiritually lifeless state, in "deadness" to knowing and doing the Will of God, in constant violation of His Will, His Commandments.
It is a symbol of the state of man, who is in spiritual "death" in relation to the true, righteous life worthy of Man.
"Decay" is a symbol of physical death, the final, eternal non-existence of a person who has not repented of his rejection and violation of God's Commandments, who has not changed his life of sin into a life of righteousness.