The Coronavirus pandemic has tested the health systems and economies of most countries around the world with two major issues: containing the crisis and initiating economic recovery. There were talks globally about the falling GDP and the impending collapse of the economies of several nations. Nations are increasingly recognising that existing economic models could be more a problem than a solution. A new economic order that is equitable, fair and compassionate is needed to meet the Delhi declaration of G20 to ensure that issues related to People, Profits, Peace and Planet are addressed. This article attempts to provide this LiFE Economy model as a viable and workable alternative.