Learning to play It's My Life on guitar is easy, more than suitable for beginner guitarists. So what's the point (other than learning a great song)?
The point of learning easy guitar songs such as this Bon Jovi classic isn't mainly to develop any given technique, but to develop your rhythm and sense of timing. There are several parts to the song, all of the include longer rests and other elements that make correct timing crucial in getting everything sounding right.
And this is a very important attribute of good guitarists, that's why you have to practice it whenever you get a chance to.