The song reminds me of a few verses in the Bible. 2 Corinthians 5:17, which talks about how we are now a new creation through Christ, rings throughout the song as a major theme. Another theme-ringing verse is found in the book of Romans:
But God demonstrates his own love for us in this: While we were still sinners, Christ died for us. (Romans 5:8 NIV)
As you can see, love, sacrifice and new beginnings are the main themes of the song. I love how it expresses how little we understand of God and our current situation, but since God had first loved us, we are now able to truly love others and life, and more importantly, God himself. Here is the official lyric video for the song. I hope that it rejuvenates and encourages you as it has for me.