In this quote, Cicero is referring to old age as the last of life, but also as a masterpiece. He is acknowledging that life resembles a play with various acts, and aging is the last act - one that ought to be valued and valued. The phrase "crown of life" recommends that old age is a time to be pleased with, a time when we have actually achieved and accomplished what we set out to, and we can wear our accomplishments with self-respect. Cicero motivates us to commemorate the end of our play, and to accept the knowledge and experience that features aging, instead of fearing it.
"Life is life - whether in a cat, or dog or man. There is no difference there between a cat or a man. The idea of difference is a human conception for man's own advantage"