OBJECTIVES:  Value of life is a marginal benefit of preventing death in a given lifetime. Human life is priceless. However, under limited supply of resources or infrastructure, it is important to estimate value of life. The Human Capital Theory(HCT) based on investments to human`s health which can reduce morbidity and mortality, but also improve macro and micro economic outcomes of societies. The aim of this analysis is to conduct a model for estimating value of life of countries depending on HCT for France, Germany, Italy, Spain and United Kingdom. METHODS: Net present value(NPV) of the taxes and spending of governments were calculated depending on population demographics and economic data as population distribution by age, employment compliance by age, age of school enrollment, schooling years, year of retirement, unemployment rate, entry annual wage, healthcare spending, education spending, etc. The estimated produced economic value for a life time term for each country was assumed as value of life. The economic data for the model was taken from World Bank, UNESCO, OECD and WHO. RESULTS: Estimated produced economic value for a life time for France, Germany, Italy, Spain and United Kingdom were found to be US$ 467,388, US$ 377,675, US$ 151,797, US$ 178,968, US$ 358,766, respectively. The estimated values for France, Germany, Italy, Spain and United Kingdom were 10.98, 8.12, 4.22, 5.99 and 8.58 times of each countries GDP per capita, respectively. CONCLUSIONS: The value of life is estimated by a hypothetical model based on NPV with taxes and spending of government for each individual for a life-term. Model approaches included value of life for each decades of age, which can guide for marginal benefit of preventing pre-mature deaths. This may be a guide for health policy authorities to make prioritization for treatment options for different decades.