Here's a sample program using TLM. It's from a 31iM, but it should be close. I first went to OFFSET/SETTING and > until TOOL-LF. Here you can assign individual tools to groups, enter initial life, and select the type of life you want to use: minutes or cycles, and specify H and D numbers to use with each tool in the group.
I have assigned T119 and T120 to Group 119. I've also set the life to 3 minutes. The COUNT value shows "life used". When COUNT value reaches LIFE value, the tool life is used up.
In the program, you call for the Group Number, not the Tool Number, in this case T1119 M6 calls for a tool from the 119 group.
The G43 Z5. H99 calls for the H number defined in the Group, and in this case, if it's using T119, it will use H119, and if it's using T120, it will use H120.
There's also a way using G10 to assign life from a program. I'm not that far along yet.