If my child were in danger such that giving my life could save him, I would do so. Therefore, there are situations in which man's highest value is not his own life. You cannot use reason to deduce ethics. You can only use reason to obtain what you want (in Ayn Rand's case, her own life).
If you value your child's life more than your own, and most people do, your choice to die while saving your child's life is an honorable and heroic act -- so long as it was your own choice.
That point is clearly made in Ayn Rand's Ethics, which I'd suggest you read.