First what is life? The big Bang happened and life in its most primal state came into being then the evolution of the life forms took place. Man came to be the crown Jewel of the creator.
Now what is the fuel that drives man? After some investigation you will find that thought drives man. How are thoughts created? This is a rather complex question that require more room to work on.
Basically thoughts are formed by impressions in the mind, and stimulus from the senses. I see and the most dominant impression of the mind start to generate thoughts.
So now what is the significance of Life.
The significance of Life is to be a master and not a slave to the senses. My thoughts must be what I want them to be and not influenced from the outside.
Refer to the image of Lord Vishnu with the creator on a Lotus from his navel. You were once attached to some ones navel. The creator was surrounded by water, so were you.
Thus you are the creator of your universe and the significance of this existence is to become the master of your creation.
If you examine yourself carefully, you will find that you are a slave in your creation and you continue to create under the command of the senses.
Hope this will stimulate your thought processes to break the grip of delusion and be a master once again and thus become a God that you are.