According to CDC, average life expectancy for US men is 76.5 while for women it is 81.4 years. So in your scenario the average man who claimed at 70 never catches up while the one that claimed at 62 enjoyed more benefits sooner. The woman who waited until 70 comes out a head but only for about a year and a half. There is also an underlying concern that benefits will get reduced or eliminated and the odds of that happening go up over time as our irresponsible over spending legislature keep borrowing from SS instead of funding it. Thus claiming early means you will get something while waiting risks getting less or nothing.