What does 1 Timothy 2:6 mean?

Ransom, in this context, is the idea of a payment, something commonly mentioned in the Law (Exodus 21:30; 30:12; Leviticus 19:20; 27:29; Numbers 35:31–32). Jesus personally explained His role using this concept, saying "… the Son of Man came not to be served but to serve, and to give his life as a ransom for many" (Matthew 20:28; Mark 10:45). The prior verse pointed out that Jesus Christ is the one and only mediator—or reconciler—between God and men. This verse explains that Christ serves this purpose by becoming the payment for our sins.

Paul also uses an interesting reference to timing and testimony. This difficult-to-translate transition most likely refers to Christ's death as a testimony of God's character and His desire for the salvation of men. This was explicitly mentioned in 1 Timothy 2:4. The Greek word translated "testimony" is martyrion, which can also be translated as "witness, or to reveal." Some commentators also see a connection between the "testimony" of the Ten Commandments and Jesus as the "testimony" of the new covenant (Exodus 25:16). This would again emphasize Jesus as the fulfillment of the Law (Matthew 5:17). The phrase "the proper time" simply refers to the coming of Jesus to earth and His sacrifice on the cross at the "right" time.