Genesis

Why Eazy and not Easy? the Z is more phonetic and when you stress upon the letter Z it is longer and gives you a sense of relaxation. Try it thrice and feel the difference.

Now welcome to Lfe. Yes, you are correct the I is eaten away. On purpose. 

Think of a situation, a day when you are facing a lot of Trouble. You find yourself in a soup. You curse yourself and feel bad, depressed. Now, do you ever thought why do you feel like that? Because you at the bottom of your self realise 'I am the Centre of Attraction'.

Suppose this I to be the Hero of a Movie you are watching on the TV and you are watching the I from outside. Believe me, you will find plenty of options to take this I out from all the trouble. So when you take out the I from Life you get Lfe and save the I  from all the trouble and start finding solutions for the I.

Now the I gets an Eazy Lfe.