Think about it... They killed off one of the show's most funniest characters Jiraiya, and now their going to kill the one of the second funniest and the kick ass character of the series? Obviously they wont do anything that stupid..
Kakashi has too much going:
The only ninja that actually looks like a ninja
The coolest looking character
The coolest techniques
The character with a solo book (Meaning he has the potential to be on a solo anime show)
The character with most interesting past!
The ONLY CHARACTER THAT FULLY UNDERSTANDS SHARINGAN IN THE LEAF VILLAGE
He is alive.. You'll see..