Examples differ widely at this point. Although the movie version of his life takes many liberties, the real William Wallace lives on in the spirit of his country, as shown by his statue in Stirling, Scotland. There is no indication of what happens to Simba but we can infer from the appearance of his father's spirit that immortality awaits him.
Arthur is called the "Once and Future King" for good reason. When he died, Arthur’s body was placed on his funeral ship. His body is set adrift to let the sea carry him off, but he is promised to return one day to reclaim his throne of England. This promise implies his spirit is waiting somewhere and is not really dead, his reward for his sacrifice as king.
And don’t forget Obi-Wan, Yoda, and Anakin Skywalker in spirit form. They all were Jedi Knights and are now rewarded spiritually for being on the Good Side of the Force, implying that a Jedi like Luke will be rewarded when his body dies.