The seed of God’s word is imperishable, and therefore, the life that it generates and sustains is imperishable.
The blood of Christ is of infinite value, and therefore, its value never runs out. It is an imperishable value. That is how we are ransomed. That’s the price of the new life we receive in the new birth. And Jesus paid it for us…
What comes into being in the new birth will never die. I think Peter is emphasizing this because the overarching context of his letter is suffering. Don’t be daunted by your suffering. Even if they take your physical life, they cannot take the life you have by the new birth. That is imperishable.
Piper, J. (2009). Finally Alive: What Happens When We Are Born Again (81). Fearn, Ross-shire, Scotland: Christian Focus Publications Ltd.