Which factor does not affect the premiums charged for group disability income insurance?

The premiums charged for group disability income insurance are influenced by several factors that assess the risk and cost associated with covering a group as a whole. The average age of members (which affects life expectancy and likelihood of disability), the duration of the waiting or elimination period (which determines how long after a disability occurs benefits begin), and the length of time benefits will be paid (which impacts the overall financial exposure for the insurer) are all critical components that insurers consider when setting premiums.

The location of the insured, while it can have an impact on some aspects of insurance pricing due to regional economic factors, cost of living, and variation in medical care costs, does not play a significant role in determining premiums for group disability income insurance. This is primarily because group policies are designed to statistically spread the risk across many individuals, often within the same organization or association, thus diluting the importance of geographic variations in risk. Instead, the focus remains on the characteristics of the group and the specific terms of the policy itself, making this factor less influential in premium determination compared to the others listed.