No, it is not a sign of your plant’s dying. A dropping peace lily is due to the underwatering and overwatering of the plant. Other reasons that can cause the drooping of the leaves are root rot disease, excessive sunlight exposure, and repotting shock. All these conditions can cause drooping leaves of the peace lily. To revive the plant’s health, you need to improve the drainage and water the plant excessively. It will also help the plant to get rid of the fungal attack as well.