Life assurance premium is determined by the assured's
Answer Details
Life assurance premium is determined by the assured's age. This is because the risk of death increases as one grows older, and thus the premium for life assurance increases with age. Other factors that may influence the premium include the amount of coverage, the term of the policy, and the individual's health and lifestyle habits. However, the age of the assured is one of the most significant factors that insurance companies use to calculate the premium for a life assurance policy.