Which factor does NOT typically affect life insurance premium rates?

Life insurance premium rates are influenced by various factors that assess the risk associated with insuring an individual. Age of the insured is a critical factor, as older individuals tend to have higher premium rates due to the increased likelihood of claims. The gender of the insured is also significant, as statistically, one gender may have a higher life expectancy and, therefore, lower premiums than the other. Geographical location is relevant too, as certain areas may have increased risk factors related to health, safety, or environmental concerns, which affect the likelihood of claims.

On the other hand, the color of the insured's hair does not have any bearing on mortality risk or health status. It is not a factor that insurers consider when determining premium rates, as it does not correlate with an individual's life expectancy or health risks. This makes it the correct choice as the factor that does not typically affect life insurance premium rates.