127,704 is the discrepancy number against the five year average. And the average age of those who died solely from TCV is 82, which is towards the upper end of UK life expectancy.
The average age of 82 is very similar to the normal average life expectancy. However, this is a bad thing. What it means is that the number of people who died only of Covid matches the normal distribution of UK deaths - which means that whatever your age is, your risk of dying only of Covid is increased by a similar amount.
It's also not "towards the upper end of UK life expectancy" since life expectancy is itself an average. Therefore as many people live to be older than 82 as die before 82.
IMV the 127K figure is as close as we're going to get to a true value for those who have died either of or because of Covid. If you have heart problems then that will likely be on your death certficate when you finally kick the bucket, but if well managed you may live for an extra 20-30 years. However, catch a respiratory diesese such as Covid and the extra stress on your heart and lungs could do for you fairly rapidly.