How does Loki die in Norse mythology and what significance does his death hold in the overall Norse pantheon?

In Norse mythology, Loki dies during Ragnarok, the end of the world. He is killed by Heimdall, the guardian of Asgard, in a final battle. Loki's death signifies the end of chaos and the beginning of a new world order. It represents the balance of power being restored and the cycle of life and death in the Norse pantheon.