Nope, iLife contains iPhoto, iMovie, Garageband, iWeb, and iDVD. If your curious as to what iLife is, read more about it here.
iTunes is free, and preinstalled on all Macs.
Actually you're incorrect. Technically iTunes is part of iLife and comes on every iLife DVD. iTunes however is the only free app that's part of the bundle and hence why it's included with all Macs.