This is the 10884th most frequent Swedish word.
lives
"Lives" in Swedish means "body" or "life" (archaic or poetic usage).
Here, 'lever' is the present tense verb for 'to live', describing the state of living in the sentence.
Hon lever ett lyckligt liv.
She lives a happy life.
In this case, 'liv' refers to 'lives' in the plural form, indicating the general state of existence for the group.
Deras liv är fyllt med äventyr.
Their lives are filled with adventure.
'Leva' here is the infinitive form of 'to live', expressing the action of living in a specific manner.