Which of the following factors is not typically included in the calculation of life insurance premiums?

In the calculation of life insurance premiums, cash values are not typically included as a factor. Life insurance premiums are primarily determined based on the risk associated with the insured and the cost of providing coverage. Key components that are included in this calculation include mortality (the likelihood of the insured dying within a certain period), loading (which accounts for administrative costs and profit margins), and investment earnings (which reflect the expected return on the insurer's investments that support the policy).

Cash values, on the other hand, are associated with permanent life insurance policies and represent the savings component of the policy that accumulates over time. While cash value is a beneficial feature for policyholders, it does not directly influence the determination of premiums. Instead, it is a result of the premiums paid and the investment performance of the policy over time. Therefore, focusing on mortality, loading, and investment earnings provides the framework for premium calculations, while cash values serve a different purpose within the lifecycle of a policy.