What does mi vida mean when an endearment?

The Spanish phrase "mi vida" literally translates to "my life" but is commonly used as a term of endearment expressing great affection for someone, similar to phrases like "my love" or "my darling" in English. It's a personal yet profound way of emphasizing the speaker's connection and deep care for the addressed person. The term is used between individuals who share a strong emotional bond and often conveys feelings of tenderness, intimacy, and devotion.