Every person in the civilized lands has value. This value is expressed monetarily based on social status. Yes, much like ancient Europe in our own world, there is a system to determine what each life is worth. This value is called the Weregild.
The Weregild is the price of a man’s life. Killing someone wrongfully means paying the weregild in recompense. Incapacitating or wounding them will cause payment of a percentage of their weregild. These fines are imposed by the nobles governing the lands where these events occur.
Weregild does not apply to the battlefield, to outlaws, bandits, or criminals.
When charged with paying a weregild, the offending party must pay within 1 month. Failure to pay means seizure of property or even being made a thrall (indentured servant) to pay the debt.
A guideline to Weregilds is:
Commoner: 50 gs
Crafter or Merchant: 500 gs
Warrior: 1000 gs
Cleric or Mage: 2000 gs
Knight/Banneret/Ridder: 4000 gs
Baron/Hauld: 8000 gs
Count/Thegn: 32000 gs
Duke/Jarl: 64000 gs
Prince/Aethling: 125000 gs
King/Cyning: 250000 gs
so if you really want to know what your life is worth, down to the gold scield, you can reference the above list as a guide. Of course, this may vary depending on the noble in question imposing the weregild, but by and large it makes a good rule of thumb.