'Life' in the Bible

based on the hope and divine guarantee of eternal life, [the life] which God, who is ever truthful and without deceit, promised before the ages of time began,

In a similar way urge the young men to be sensible and self-controlled and to behave wisely [taking life seriously].

who [willingly] gave Himself [to be crucified] on our behalf to redeem us and purchase our freedom from all wickedness, and to purify for Himself a chosen and very special people to be His own possession, who are enthusiastic for doing what is good.

so that we would be justified [made free of the guilt of sin] by His [compassionate, undeserved] grace, and that we would be [acknowledged as acceptable to Him and] made heirs of eternal life [actually experiencing it] according to our hope (His guarantee).