not quite.
Only 144,000 will be selected live forever in heaven. They will have to die and be reborn, 'born again', into new spirit bodies. Their physical body will die so that they can be resurrected into heavenly bodies:
1Cor 15:52 in a moment, in the blink of an eye, during the last trumpet. For the trumpet will sound, and the dead will be raised up incorruptible, and we will be changed. 53 For this which is corruptible must put on incorruption, and this which is mortal must put on immortality.
The rest of humanity will continue to live on earth. The dead among them will be resurrected into new bodies created from the dust...their life will be restored and they will have the opportunity to live forever on earth.
Do not be amazed at this, for the hour is coming in which all those in the memorial tombs will hear his voice and come out.
John 5:28, 29
we dont believe in hell as such. According to the bible, hell is the grave.
And death is the final judgement....so if you go to the grave, thats it, you've paid for your sins and there is no more to be judged for.