There is a fourth explanation. That life in some form has always existed. So creation is not needed.
For example, take the creation of the universe- something more understandable than life. For some time now the Big Bang cosmology has held sway, which implies a creation of the universe- out of nothing according to Big Bang theory.
But now along comes String theory which indicates where the big bang came from. Couple this with the Evolutionary Theory of Black Holes and you have our own universe propagating a multitude of new universes. So we may say there is a beginning to each universe, but not a beginning to existense. Universes have always existed in spite of the third law of thermadynamics as the unified field in the singularity of every supermassive black hole reinitializes randomness with its perfect order.
Any intelligence that survives the black hole, in accordance with the teaching in the Bavagatam, is what we would call god. Each aspect of this intelligence that propagates into a new universe is essentially the unifying principle, the god of that universe. That form of life has always existed, as stated in scripture after scripture of all faiths.
But I think you are really talking about biological life. Clearly biological life cannot survive a black hole. So it has to reinitiate in every new universe. The rules governing the creation of life are embedded in the principles of physics and chemistry, which is akin to the unifying principle. So there is a driving force to create new life inherent in each universe.
I imagine that this force is guided somewhat by supernatural intelligence. It certainly seems to control my life through a series of coincidences. So I imagine that it`s always adding little perturbations here and there to keep things going in the right direction.
But sometimes life goes down the wrong path and an order is created that stymies the further development of intelligence and consciousness. Then drastic measures are called for- like the elimination of the dinasaures. With the advent of the hydrogen bomb, I believe that we are at a similar crossroads- one that every previous intelligent civilization has had to face. If we fail, the laws of physics and chemistry give us the means to eliminate us, perhaps with a little negative guidance from above. Prophecies are of little help here as both disaster in one scripture and peace in another are prophesized. Let us pray that the prophecy of benevolent intervention from above comes true.