On YouTube I found that Leon Redbone version, in Db major. The chords, in C major for simplicity:

C G7 C F
C G7 C G7
E7 Am E7 F
D D7 G G7
C C7 F Fm
C G7 C (G7 :|)

Any lyrics starting "Life is ..." claim a philosophical standard virtually impossible to accomplish. Given that, the lyricist did not do a bad job, but the composer, sorry, missed the point.