The UK annuity market shows that people who buy annuities tend to live longer than the general population. This leads to higher payouts for annuitants compared to the average person. Even in the compulsory annuity market, where some people are required to buy annuities, there is still evidence of selection effects. People also choose different types of annuity products based on their expected lifespan, with longer-lived individuals opting for higher future payouts. Prices for annuities are lower for larger policies, which goes against some theories about insurance demand.