What does redemption mean in the context of salvation?

In biblical theology, redemption encompasses the act of Jesus Christ freeing His people from slavery to sin, death, and the punishment of God's wrath. Hebrews 9:12 states that Christ entered the holy place once for all, obtaining eternal redemption for His people through His own blood. This means He paid the ransom necessary to satisfy divine justice on behalf of His elect. Redemption is both a completed work and an ongoing process, where believers are continually being sanctified and delivered from the power of sin in their lives. It assures Christians of their eternal inheritance in Christ.