Is life fair?

No, by itself it can't be. But there's a day of judgement in which everyone's actions will be held accountable. "So whoever commits an atom's weight of goodness will face it, and whoever commits an atom's weight of evil will face it."
In fact, the perfection in the creation of the heavens and the earth, the perfect balance in everything, except the Justice among humans, is in itself a proof that the Creator is postponing the judgement to a final day where Justice will prevail.