Life is the most precious gift we are given is correct.
But a gift is never granted. Grant has the following meanings :
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1. to bestow or confer, especially by a formal act: to grant a charter.
2. to give or accord: to grant permission.
3. to agree or accede to: to grant a request.
4. to admit or concede; accept for the sake of argument: I grant that point.
5. to transfer or convey, especially by deed or writing: to grant property.
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