I understand that "To live with no pursuits, to die with no regrets" as being a kind of realm. "Without pursuits" doesn't mean that one lives without thinking and seeking, but instead refers to the peaceful, harmonious, and broadminded state attained after one discards all human notions and attachments. It is a state achieved after one thoroughly and clearly sees through "life" (including everything in the human world). Only after realizing such a thoroughly free and easy state, can one genuinely guide one's own life, remain unmoved by either honor or disgrace, stay calm in tribulations, be neither confused nor tempted, and can let go of everything that needs to be discarded and obtain everything that should be attained.

"To die with no regrets" also doesn't mean that one does not cherish life, but means that death can no longer present any threat nor can it be the reason of dragging out an ignoble existence. I feel that it refers to the greatest righteous belief in the Fa and the greatest self-confidence, i.e., the shining forth of the Buddha nature after truly rising above the fear of death and clearly understanding the karmic arrangements of life and death. It is the eternalness of the fundamental nature of life after assimilating to the Fa. Such an ascension may be natural and may not be on a grand and spectacular scale, with the heroics and passion of the human world, but it is indeed a genuine release and ascension after getting rid of all selfish desires, and becoming free of attachments, it reveals one has genuinely understood the meaning of "When I come to this ordinary human society, it's just like checking into a hotel for a few days. Then I leave in a hurry." (Zhuan Falun) Only when life reaches such a realm, can one take a righteous path, have righteous actions, and live in the belief of truth.

The above is only some of my personal understanding. I hope fellow practitioners will kindly point out to me anything that is inappropriate.