We should produce good fruit in our lives. And in the end everlasting life will be ours, as a free gift through Jesus. I think that the end is not referring to our lives, but to the end of this age. When God will complete the work that he has started with mankind.

The wages of sin is death, the opposite of life. The gift of God is eternal life. Does he give us what we already posses? No that wouldn't be a gift. We don't have eternal life until he gives it to us after we accept Jesus as our Lord and Savior.

Romans 6:22-23 KJV