Which component of a life insurance premium is based on the insured's age and gender?

Expenses in a life insurance premium cover the administrative costs, marketing, and other operational expenditures of the insurance company. While these costs are necessary for the functioning of the insurer, they are not directly influenced by the insured's age or gender, making this choice irrelevant to the question.

Interest refers to the income generated from the investments made by the insurance company with the premiums collected. Though interest rates can affect the overall profitability of an insurance policy, they do not relate to the risk assessment based on the insured's age or gender.

Morbidity pertains to the incidence of illness or disease within a given population and is primarily relevant in health insurance rather than life insurance. While age and gender can influence morbidity rates, this component does not directly impact life insurance premiums, which focus on mortality rates instead.