Did you underestimate your life expectancy?

A survey is conducted on people aged 60 for the attitude on their life expectancy, showing that they consistently *underestimate* their longevity, for both men and women. Researchers, as such, argue that this underestimation could be one of the factors explaining the low annuity demand phenomenon in the UK.

Do you agree? How would you react to this mis-perception of your life expectancy? Apart from annuity purchase, can it be used to explain some more saving decisions? Having looked at the results, do you want to save more and spend less in current period?

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Source: #NBER Working Paper 27677