It could either way for Rey. While she is the lightsaber-wielding light side of the Force, she still has a long journey ahead of her. That journey may end in The Rise of Skywalker.
While the original trilogy saw our heroes make it out alive, times have changed and there is no guarantee that any of them will make it. The Force brought them together, but that doesn’t mean it wasn’t for sacrifice.
Rey is one character who will constantly be put in situations where her life will be in danger. She will fight with Kylo Ren on top of the remnants of the Death Star II and then apparently come face-to-face with Palpatine.
It’s in that meeting with Palpatine that will decide Rey’s fate.
While in all likelihood she will finally defeat the nearly immortal Palpatine, it may come at the cost of her own life. Perhaps to distinguish his fire, hers has to go out as well.
We’ve seen many movies where the hero dies at the end to save everyone else. We’ve seen it a little bit in Star Wars like when Obi-Wan Kenobi allowed Darth Vader to strike him down because he knew he would be stronger in death. Or when Luke sacrificed himself so that the Resistance could get away.
Rey might just become another in the line of those who give themselves up for the greater good.