I always the ring didn't let you live longer (not in such a direct way) but that it merely stopped time for the one who weared it. in this case, when you lose the ring, you are technically spoken, the same age as when you got the ring. this also explains why gollum could live further after he lost the ring; he still had some 60 years or so, because he was a relative young hobbit when he got it.
(yikes, my first post)
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well, that's that then
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