It won't kill the follicles, unfortunately... but it should make the hairs a little finer. That's what has happened to mine so far, at least. Fortunately, I started HRT right before my 19th birthday but even then I utterly hate what little hair I do have. To others it seems like just a little, I guess, but to me... god, it's all over the place. I hate it.
Anyway... I feel your pain. Literally. Right now I'm doing laser but I want to get my entire body done with electrolysis at some point. If only I can get past my phobia of someone touching my body and looking in weird places... >.>