Yes, if you mean that the flow of life is real and will be there as long as the fuel (raga, dosa, moha) to feed it is there.
- An Arahant lives until the end of the physical body that he/she was born with. That physical body was born before attaining Arahanthood and will survive until the kammic energy it came with is exhausted. Once the physical body dies, all fuel is exhausted, and the lifestream of the Arahant ends—no more rebirths in any of the 31 realms in this world.
- On the other hand, a puthujjana (average human) — or even a Noble Person below the Arahant stage — would have more fuel to sustain another life at the death of the physical body. But a Sotapanna would not have fuel to initiate a rebirth in an apaya; an Anagami would not have fuel to initiate a rebirth in the kama loka.