Which of the following statements is true about premium elements of life insurance?

The premium is reduced to cover the insured's marketing and administrative expenses.

The premium is increased because the insurer expects to earn investment income.

In calculating premiums, an actuary usually reduces the premium to cover the insurer's risk of not

predicting future losses accurately.

The premium is reduced to recover the taxes levied on the insurer.

Income from the investments is an offset in the premium calculations.