Literary analysis: Jacob extends his analysis by extending his imagery. Where the parallel phrasings had both death and hell yielding up their dead, Jacob takes that same language of delivering up and applies it to an extended concept.
Where before both the grave and hell had to deliver up the dead, creating the contradicting condition of life after the grave, and potential sinlessness after sin, in the next verse Jacob uses the image of delivering to provide the basis for the explanation of the resurrection.
First paradise delivers up the spirit, then the grave delivers the body. Once again, Jacob weaves the dual theme into a verbal structure that hinges on the phrase "deliver up." Here, the spirit and body are "delivered up" so that they might be reunited. Jacob also reprises his earlier characterization of resurrection as the corruptible putting on the incorruptible.
With the literary parallels and emphasis on dualism, it is possible that the incorruptible and immortal should be linked in parallel to "perfect knowledge like unto us in the flesh." If this is the case, Jacob is using "knowledge" as the parallel referent for the atonement from hell, where the "incorruptible" is the parallel for the atonement from the grave.
The next function for the phrases on knowledge is as a bridge to Jacob's next theme, the judgement.