Hi Sea Breeze,
Christians are ransomed and redeemed now... so it is not only sheol that we are delivered from.
Deliverance of humankind from its state of alienation from God has been accomplished through the death and resurrection of Christ (Rom 4:25; 2 Cor 5:18-19). In the New Testament, redemption requires the payment of a price, but the plight that requires such a ransom is moral, not material. Humankind is held in the captivity of sin from which only the atoning death of Jesus Christ can liberate. ("Entry for 'Redeem, Redemption'". "Evangelical Dictionary of Theology")
Therefore, since we have now been justified by his blood, how much more shall we be saved from wrath through him. Ro.5:9
Rom_3:24 Being justified freely by his grace through the redemption that is in Christ Jesus:
1Co_1:30 But of him are ye in Christ Jesus, who of God is made unto us wisdom, and righteousness, and sanctification, and redemption:
Eph_1:7 In whom we have redemption through his blood, the forgiveness of sins, according to the riches of his grace;
Col_1:14 In whom we have redemption through his blood, even the forgiveness of sins:
Heb_9:12 Neither by the blood of goats and calves, but by his own blood he entered in once into the holy place, having obtained eternal redemption for us.