A Software to Calculate Life Span - Coming Soon

What will you do if you have the opportunity to know how long you will live? What will you not do if you happen to know the number of years remaining for you? What will you STOP doing if you are privileged to know your life expectancy?
All of these are the questions that people are asking themselves when the news filtered in that some computer geeks, from the University of East Anglia, are planning to develop a software to determine life expectancy of people.
The project which is expected to take 4 years before completion, and it will receive around 1 million pounds
from the Institute and Faculty of Actuaries.
The objective of the research is not to give the exact figure of one's life expectancy but by analyzing some factors like lifestyle, sex and age, they hope to be able to give an approximate guess about how many years an individual still have to live.
It is a huge project where information from over 3.4 million British citizens will be used.
Having a prior knowledge of one's life expectancy will give one a bitter-sweet experience. It surely has its advantages and disadvantages. How?

Advantages

1. It will help people to plan well for their future. Somebody who knows that he/she has a limited number of years to live will definitely stop spending his/her money on frivolities. Such money will be invested to leave a good foundation for one's family to build on after one's demise.
2. People's attitude towards life may change: Some people who are engaging in vices believe they will change with time. Some of these people are still young and they believe that they still have some years more to live. But the story may be a little different if such individuals know that they have a very short period of time more to live. The realization may move them to want to draw close to God before their last breath. 
3. It can also help people to handle their health issues better. This is possible because uncertainty about some terminal diseases prevent some people from engaging or involving themselves in other activities. The belief that a terminal disease may kill one very soon may be uprooted if one knows how long it remains to be lived.
4. It can help to change one's priorities: Instead of going for that new wife, knowing 6 months is all the grace that one has will motivate someone to hasten the completion of his house so that one's family will not become homeless after one's death.

Disadvantages 

1. Having such knowledge may increase crime rate: Imaging a 32-year-old unemployed graduate who is struggling to make ends meet believing that sooner or later, his condition will improve. But alas! He just got the information that he has just 1 year more to live. What do you think he will do? Do you think he will spend the remaining 1 year looking for evasive job or join some rich guys who are involved in illegal business deals?
2. It may also lead to increased rate of depression: Someone who is very brilliant and have some good ideas to contribute to the development of the world suddenly realizes that he has just 6 months more to live, what will become of him? The realization that all his talent and skills will become useless in the next 6 months may make him depressive and suicidal.

In view of the points listed above, are we better with the uncertainty of our life expectancy or do we really NEED this software?