Repeating Cycle?

If memory serves, when someone in the World of the Living dies, they either go to the Soul Society or Hell based on what they did. When Soul Reapers die, they get reincarnated into the World of the Living as a human. Does that mean the cycle of life and death is repeating? You die as a human, you go to the Soul Society and if you die as a Soul Reaper, you go back to the World of the Living?