I doubt life will expire. Earth has undergone far more radical changes than this and life has always found a way. Man, with it's ingenuity would probably be the least likely to dissappear though we're already entering a stage of mass species extinction as impressive (or depressing) as anything since the permian extinction of 250 million years ago, when the protodinosaurs were the size of budgies. A whole cycle of life and another mass extinction 65 million years ago. This one will probably be as traumatic as a decent ice age at absolute worst, of course the effects on civilisation will be utterly devastating with deaths in the billions. Luckily that'll mean those that are left, jet packing (for they have to come one day...always in the future..i want one now) to the maldives will have far fewer germans to compete with for beach space.