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The phrase "value of life" is correct and usable in written English.
You can use it when discussing the important things in life that have intrinsic worth and importance, such as relationships, experiences, and health. For example, "Many people are beginning to realize the value of life and prioritize spending time with family and friends over material possessions."
Exact(59)
Value of a life year was calculated from the statistical value of life following the formula: V O L Y = S V L A T − A where VOLY is statistical value of life year; SVL statistical value of life; A age when the case happened; T life expectancy; T - A loss of life.
Human personhood, human enjoyment, and the value of life will always be measured.
"As economists, we can't say there's a limit to the value of life," he said.
They have less a value of life when it comes to us".
"I hold the value of life is to improve one's condition," he declared in 1861.
This [shooting] is about people who aren't taught the value of life".
"I hold the value of life is to improve one's condition," Lincoln declared.
Unfortunately, we're no better at calculating the value of life itself.
The death of her mother taught Quind-len "the value of life and happiness".
The value of life is not what it used to be".
Similar(1)
Yet evidence from value-of-life studies suggests that this is not the case: value-of-life estimates based on large increases in life expectancy are typically lower than those based on small increases.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com