Many Americans believe that they are financially unprepared to live into their 70s, 80s and 90s, according to Northwestern Mutual Life Insurance Company's "Longevity & Preparedness Study" released today.

The study, the second in a series exploring the state of financial planning in America, asked respondents whether they are financially prepared to live to the ages of 75, 85 and 95. Only slightly more than half of Americans (56 percent) said they were prepared to live to 75; less than half (46 percent) said they were prepared for 85; and barely more than one-third (36 percent) said they were prepared to live to 95.

According to the Centers for Disease Control (CDC), average life expectancy in the U.S. has increased to 78.2 years (75.7 for men and 80.6 for women). The CDC also reports that couples aged 65 today have a 50 percent likelihood that one partner will live to age 94. One out of 10 couples now at age 65 will have a partner that lives to be 100 or older.

"This research indicates that many Americans are financially unprepared to live long lives," said Greg Oberland, Northwestern Mutual executive vice president. "With longevity comes an increased need to proactively manage your personal finances, which includes a solid risk management strategy. No matter what age you'll live to, it's important to protect the dollars you'll eventually depend on to provide an income in your retirement years."

The survey also resulted in the following findings:

Women, who on average life five years longer than men, feel significantly less financially prepared to live longer lives than men.

Men, regardless of age, are significantly more likely than women to feel financially prepared to live to age 75 (65 percent vs. 48 percent); to 85 (55 percent vs. 37 percent); and 95 (43 percent vs. 30 percent).

Younger Americans (25-59) feel less prepared than older Americans (60 plus years old ) to live to 75 (47 percent vs. 79 percent); to 85 (37 percent vs. 66 percent ); and to 95 (29 percent vs. 52 percent).

Independent research firm Ipsos conducted the online survey of 1,015 Americans aged 25 or older between February 2 and February 13.

-Jim McConville