User blog comment:DiegoAnime3000/Death Headcanons: Why not?/@comment-24202592-20140127225807

Honestly, in my opinion if Team RWBY was going to die or if a member of Team RWBY died, it would be on/around the the show's grand finale. It just doesn't make sense to call the show 'RWBY' and keep going if one or all of them were dead.

Side characters, however... I feel it's only a matter of time. Dunno. However, I wouldn't expect there to be any character-killing anytime soon as it's too early. Maybe around S5, maybe even farther.

Also, like the OP said, maybe if there was a supposed 'major character death', Rooster Teeth would bring the supposed deceased character back through some badass means.