Living longer can be advantageous as you can take care of your children and grandchildren for longer, as well as continue to amass resources after the reproductive age, but indirectly improving the chances of your descendants.
Being able to consult the elders when the group faces perplexing problems (who may have lived through something similar, or at least heard stories from the recently deceased generations who have) might mean the difference between between 20% of the population starving and no one starving.