Indeed, he didnt die but he would have died, if he havent got that other body where to heal him self. =)
Jugo was not at full strength against the raikage, he was in his kid form, remember he turned into a little kid after he healed sasuke by transfering some of his fleash and chakra to him when they fought killer bee.
He was still in that kid form at the kage summit arc, you can see in the manga and the anime that his cloak was too big for him and he was shorter and smaller than everyone there, including sasuke and karin, but we know from before that he is incredibly huge, he even didn't have a size when they bought clothes from that granny and had to wear a curtain.
All I am saying is that we have yet to see the true strength of jugo, he went straight into curse mode against the raikage because he was weakened and was still fast enough to keep up with his v1 speed, blocking his attack and forming a curse shield in the split second that a person has to react to the raikage and also countering with his laser cannons, though he missed with that one,lol.
Anyway if Jugo were to go curse mode in his adult form he would be even stronger and faster than he was against the raikage, Kakashi has no chance in a close range battle against that kind of speed and strength in a taijutsu battle, he would get pummelled into a pulp with Jugo's super strength. Add the fact that if he tried to engage in close range one hit from jugo's monstrous strength is all it would take and jugo is faster than him by feats and Jugo can increase his strength even further with his jet boostered punches. Plus Jugo has the ability to form any kind of weapon out of his own flesh and the weapon was strong enough to block Darui's zanbatou so it is quite a potent abilty.
Jugo has also shown the ability to boost his already incredible speed and reflexes with jet boosters by propelling himself with them at blinding speeds like he did when bee tried to blits them with his 7 tailed cloak, adding even more to his speed.
Jugo could also just inject him him with that syrynge like appendage and absorb him like he did to that samurai, Kakashi is no match for Jugo at close range, Jugo's laser cannons could also pose problems for kakashi if he tried to fight him at mid range, either way here the only way for kakashi to beat this guy is kamui, even a chidori wouldn't kill him if he didn't hit the heart, Jugo was pretty much fine after the raikage pierced him through the chest and the raikage had to dodge laser cannons and than use his monstrous strength and speed to catch him off guard when Jugo thought he was dead to beat him.
I don't know any mid range jutsu that Kakashi has that can trump laser canons.
Kakashi can only win against this guy with kamui, but that would weaken him enough for sugetsu to take him out with his water gun technique, having said that though, can kamui take out someone as fast as Jugo? Kamui took out pain's missile and nail, and took out sasuke's sasuno'o arrow, but the nail and arrow were headed sirectly towards his eye.
The missile was headed away from him but it wasn't as fast as the deva's nail and sasuke's arrow and it was also moving in a linear pattern, so it would have actually been easier to take it out than the nail and arrow, even though those were headed straight for his eye.
My point here is that we have yet to see kakashi use it on a person, arrows, nails, and missiles don't change their patterns of movement and cannot react when they are about to be transported to another dimension, remember that Minato avoided being transported by tobi because of his speed and reaction time, Kakashi has not ever transported someone and his hesitance to use kamui on an actual person also implies that he realises the danger of doing that because a person might be fast enough to REACT and AVOID it, unlike arrows, nails and missiles, that can't change direction and can't REACT.
What I'm saying is that this aint as easy it seems, Jugo is very knowledgeable because he knew exactly who the raikage and his body guards were and seemed to know how strong they were, he would know that Kakashi, who is known everywhere really, is a raiton user and would warn suigetsu not to engage in close range, the way I see this battle is that suigetsu would stay close to karin and use water gun technique to support Jugo from range. ( if the 2nd Mizukage can use water gun then I don't see why suigetsu wouldn't be able to, its a hozuki clan tech and suigetsu has also showed signs that he can use it, he did the exact same hand sign as the mizukage when he threatened to kill sasuke, and even did the trigger motion that activates the technique, exactly how the 2nd mizukage did it, he obviously knows how to do the tech).
People must also stop underestimating suigetsu's speed and overestimating Kakashi's, Kakashi could barely even keep up with Zabuza in the wave arc and hidan admitted to being the slowest in akatsuki but kept up with kakashi just fine and even pressured kakashi in fact (though at times he had one of kakuzu's masks supporting him).
Kakashi has never blitzed anyone in manga and Suigetsu was fast enough to block the raikage's attack on sasuke with the kubikiribocho, remember that suigetsu had to jump from up in the balcony where Karin was hiding and cover all that distance in a split second to intercept the raikage's attack, that is a huge speed feat, I don't know why people keep saying Kakashi would kill karin easy when she has Jugo and Suigetsu protexting her, who are very fast themselves, like I said before, who has kakashi ever blitzed in manga?
Some people also said that Kakashi would go underground and attack karin on her blind spot, as if karin wouldn't be able to sense him, she is by far the best sensor in the series, how would kakashi sneak up on her, plus she is very analytical and showed against danzo that she can tell when people are in a genjutsu by sensing their chakra and used that ability on herself to to check for genjutsu, and she did imply that she could detect clone jutsu's too when she determined that danzo wasn't a clone (off course she could since the clone is made of chakra, she would sense two people and different locations with the same chakra and know.) Kakashi genjutsu and clone tricks won't help one bit, Karin will always be able to tell what he is up to and warn the others in advance.
Karin also displayed the ability to sense when and where a person is gathering chakra against Danzo and she could also sense when a person's chakra level took massive nose dives, and this things will be detected when Kakashi is about to use kamui, she would be able to tell that he was gathering mass amounts of chakra in his eye and since all jutsu contain chakra,she would sense the portal and warn the others or react herself, Kakashi would at best only take out a limb with that jutsu like he did against deidara, he wouldn't win with it, Jugo and suigetsu are too fast and karin is too talented in the sensing, information and analytical department to fall for his tricks or allow her team mates to fall for those, plus she can heal injuried in a very short time with her heal bite jutsu, you guys shouldn't underestimate team taka, sasuke wasn't stupid when he hand picked them.
And don't underestimate suigetsu, this is one of only two men to tank tailed beast bomb and he is fast and strong when he hydrates his arm and a skilled swordsman, the only reason he seems weak is because he has only fought people that have an elemental advantage over his water body, any person without raiton affinty would suffer against him, yes kakashi has the advantage over him but he is not alone this time, all he gotta do is support Jugo with his water gun tech and intercept Kakashi when he goes for karin, not that he would get the chance to.
Kakashi would beat suigetsu one on one because of raiton tech, could MAYBE beat Jugo at full strength because of kamui, and would obliterate Karin one on one, but together, it is not even worth discussing, he would die a terrible death, he stands no chance.