Mortality: the expected death rate for the insured's age and sex, taken from mortality tables. The higher the mortality, the higher the premium.

Interest (investment return): the insurer invests premiums until claims are paid. The more it expects to earn, the lower the premium.

Expenses (loading): commissions, administration, taxes and profit.

Mode: paying monthly costs more over a year than paying annually, because the insurer gets the money later and handles more transactions. From most to least expensive per year: monthly, quarterly, semiannual, annual.