The anticipated life expectancy (how long you are expected to live based on your age, gender and health, among other things) and how long the life insurance coverage is going to last.
The premium is the result of statistics compiled over millions of lives and represents the risk to the life insurance company of providing the life insurance coverage to a "standard" person.
If you are not "standard" the underwriter may adjust the premium, again, to take into consideration the affects of your health, lifestyle or occupation. They look for anything that can change the risk from being "standard."
The length of time that the insurer provides the death benefit also affects the premium. The longer the coverage will last the greater chance of paying out a claim, so the higher the premium.
The price of your life insurance premium may depend on certain factors that determine your rate, including your age, gender, health, and current activities or sports, and even if you smoke. These are the most important or common questions that arise at determining premium rates for life insurance.