"Christ is risen. He is risen indeed" - What is the actual meaning?

There is a common saying, "Christ is risen. He is risen indeed." What is the bible meaning? And what does this mean from the perspective of a person who is alive on this earth today? How can this help the person? I've often heard this means a person who is dead (spiritually) can be risen again (become alive after being forgiven). Please state the denomination of your answer.