The crown of life, which James refers to, is eternal life that will be the ultimate award for all believers. The crown of life is a crown of victory. On the cross of Calvary Jesus defeated Satan and won the victory over death.
The crown of righteousness, which Timothy tells us about in the verse we have put above, represents the eternal righteousness we receive through Jesus Christ as a result of our Salvation.
The crown of glory we read above in I Peter is a reward Christ will award at His second coming, when all must appear before Him at the judgment seat where He will evaluate the faithful service of believers. What a glorious day that will be.
Recently we heard the story about a man who was dying. When asked by a friend about death, he responded by saying he had no fear about dying and going to heaven. He went on to say that he had sent on before all the things of importance.
Someone then asked him if he was concerned about losing his inheritance? His response was simple and direct when he said “NO” because he had sent his inheritance to heaven already. This insightful man concluded by saying that there was one crown in heaven that God has made for him and it will only fit his head and even the Apostle Paul could not wear it because it will fit only him.
We cannot lose our inheritance as a believer in Jesus. God has a crown waiting for us who have been faithful and hold fast to our faith in Jesus Christ.