Translation:The elderly woman is not afraid of death.
There is no definite article used in such a sentence in English, We don't say 'the death' we say 'death. 'The woman is not afraid of death' is correct English usage.
Could this also mean that she isn't scared of dead people like it would in English?
In English, if you wanted to say she isn't scared of dead people you would say "The elderly woman is not afraid of the dead". And I think the translation of that to Dutch is also De bejaarde vrouw is niet bang voor de dood.