This is a jukugo word that uses the on'yomi readings of the kanji. You didn't learn this reading for 生 though, so here's a mnemonic to help you:
Who has been in charge of you your whole life? The shogun (しょう). He owns everyone and that's how it will stay for your entire life.
I will treasure this ring my entire life.
My father remained single all his life.
I’ll make up for it with my life.