Because Your lovingkindness is better than life,Some translations, I believe, change "lovinkindness" into "mercy." That's a word we're more familiar with the meaning of, though "lovingkindness" captures it more accurately. Without God's mercy, or the kindness He shows us because He loves us, we would have no hope of salvation. When we die, we would be cut off from God forever. With God's mercy, through Christ, we have the chance to be with Him forever.
My lips will praise You.
Therefore, it is true that His loving kindness is better than life, for without it life would be nothing but the beginning of eternal torment. Without the chance for mercy, we just go from one pain to another, infinitely worse one. It then makes a lot of sense to praise God for that opportunity, and what He paid for us to have it.
