ΔE 15.5, loose: different enough that you should pick on purpose. Martian Orange is a little darker, much more muted than Life Red.
Not as a straight swap; see the closer alternatives below. Loose match (ΔE 15). Martian Orange is a little darker, much more muted than Life Red.
The same difference applies the other way round: Life Red is a little lighter, much more saturated.
ΔE is the colour difference between our two swatch estimates: under about 6 is close, over about 15 is loose. Real paints also differ in finish, coverage and how they thin, so test before you commit.
See Life Red on the colour wheel See Martian Orange on the colour wheel
All matches: Life Red equivalents · Martian Orange equivalents