Which factors does NOT generally affect life insurance premiums?

In determining life insurance premiums, several factors are taken into account to assess risk and potential costs to the insurer. The insured's gender, driving record, and hobbies all relate to lifestyle and risk assessment.

The gender of the insured is significant because statistical data shows that life expectancy can vary between genders, impacting the policy's risk factor. Similarly, the applicant's driving record provides insights into their risk profile; a poor driving record may indicate a higher likelihood of accident-related mortality. Hobbies also play a role, as some activities may involve higher risks, which could lead to a greater chance of death or injury.

Conversely, the income level of the insured does not generally influence life insurance premiums in the same direct way as the other factors. While income may affect the amount of coverage an individual can afford or the type of policy they might choose, it doesn't impact the evaluation of the insured's risk factors. Insurance companies primarily focus on variables that directly correlate with mortality risk, and income level does not present a direct measure of such risk. Thus, premiums are largely calculated based on risk-related elements rather than economic status.