Do you mean that we are free from the penalty of sin and death---from hell and the grave???----YES. No more do we need to put others down to make ourselves look better (as the pharisees did), so we can feel like we are doing it right enough to deserve God's favor. He just Loved us enough to pay the penalty for us, so that we can come to Him and say Father. We can come to Him BOLDLY---saying My Dear Father, and know that he loves us with the same Love that nailed Christ to the Cross and raised Him from the dead. The same Love that Christ showed to us we need to give away. Freely we have received and freely we should we give. We did not earn his Love and we cannot charge people for what we have received freely.
When we put ourselves under law, then we will put others under the same law in order to receive from us. When we put ourselves back under the OLD system of preforming for reward, we will put everyone else under the same performance requirement. "They did not do it right so I am not going to give them what they want." or " They should not treat me/them that way so I will not give them whatever. We have become Judge of ourselves and in doing so have become the Judge of all else in our little world. We owe this: Believe!