callum91 pointed out that there is a new option on the EA site for something called The Sims 2 Life Stories. You can see the image he saved here:

Also, he has pointed out that MaxoidMel has confirmed this on the BBS - however posters are prohibited from speaking about it as of yet. In this BBS post MaxoidMel states:

Many of you have noticed that the EA.com Web site has put “The Sims Life Stories” in their registration drop down. Yes, this game does exist and there will be more information to share about this game in the future. Please do not continue to post off topic messages about this game at this time.

Discuss this on our forums.