Life drawing refers to drawing the human body in a variety of shapes and poses using any drawing media. Female life drawing means that you are specifically drawing the female body.
The purpose of life drawing is to capture a detailed, anatomically correct (or anatomically inspired) representation of the human body. For this reason the subjects of the drawing are usually nude so that all aspects of the physical form are visible.
A life drawing may be a work of art in its own right or be done in preparation for another work, such as a painting, in order to accurately depict a figure. Representing the human form is one of the most difficult tasks that an artist undertakes and it is often a central part of art training and an enduring theme in the visual arts from antiquity to the present day.