All of the following factors are used in life insurance premium determination EXCEPT

Expenses are a critical factor in life insurance premium calculations, as they encompass administrative costs, agent commissions, and other operational expenditures that insurers incur. These costs must be accounted for to ensure that the premiums collected can cover all necessary expenditures and still yield profit.

Mortality is a fundamental factor in life insurance, as it involves the statistical likelihood of death among policyholders. Insurers assess mortality rates to determine the risk associated with insuring individuals, which directly influences the premium rates charged to policyholders.

Interest rates play a significant role in life insurance premium determination because they affect the investment returns on the premiums collected by insurers. Insurers invest premiums to generate additional income, and the expected interest rates on these investments can influence how premiums are structured to ensure the policy remains profitable.