Which factor is NOT considered in the determination of premiums for annuities?

In determining premiums for annuities, various key factors are taken into consideration to assess the risk and potential payout for the insurance company. Age is a critical consideration because it directly affects life expectancy; older individuals may have shorter life expectancies, leading to different premium structures. Sex is also a factor since statistically, men and women have different life expectancies, which influences premium calculations.

The aspect of hobby is not typically included in the determination of annuity premiums. While certain hobbies may affect life insurance underwriting due to increased risk (such as skydiving or scuba diving), they do not have a significant impact on annuity premiums. Annuities are primarily based on life expectancy and the likelihood of the annuitant living to receive payments, rather than on personal lifestyle choices or activities that could influence mortality rates.

Income amount or payment guarantee is also a factor but is more about the structure of the annuity contract itself rather than the underwriting process for determining premiums. Thus, hobby is the correct choice as it does not factor into the calculation of annity premiums.