All of the following factors are used in determining premiums EXCEPT

Mortality is a critical factor in determining premiums, especially for life insurance. It involves statistical analysis of life expectancy and the likelihood of death within certain age groups. Higher mortality rates typically result in higher premiums, as the insurer assumes a greater risk of needing to pay out claims.

Expenses are also a key component in premium calculations. Insurers must account for administrative costs, commissions, and other overhead when determining premiums. These costs must be covered to ensure the financial viability of the insurance product, making them essential in premium determination.

Interest rates impact premiums as they relate to the insurer's investment income. Insurers invest the premiums they collect, and the expected return on these investments can influence how much they charge for premiums. Higher expected interest rates can allow for lower premiums due to increased income from investments.