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premium Definition

pre·mium (prē′mē əm)

noun pl. premiums -·ums

  1. a reward or prize, esp. one offered free or at a special low price as an added inducement to buy or do something; bonus
  2. an additional amount paid or charged; specif.,
    1. an amount paid for a loan in addition to interest
    2. an amount paid, as for stock, above the nominal or par value
    3. additional wages paid as for overtime or dangerous work
  3. a payment; specif.,
    1. the amount payable or paid, in one sum or periodically, for an insurance policy
    2. Now Rare a fee paid for instruction in a trade, etc.
    3. a fee paid by a borrower of stock to the lender, as in short selling
  4. very high value to put a premium on punctuality
  5. Econ. the amount by which one form of money exceeds another (of the same nominal value) in exchange value, or buying power

Etymology: L praemium, reward, recompense < prae-, before + emere, to take: see pre- & redeem

adjective

rated as superior in quality and sold at a higher price
premium Idioms

at a premium

  1. at a value or price higher than normal
  2. very valuable, usually because of scarcity
premium Synonyms

premium

modif.

prime, superior, select, selected; see excellent.

premium Synonyms

premium

n.

bonus, prize, gift, reward, award, bounty, something extra, rebate, incentive, added, incentive, dividend, remuneration, installment, come-on*, freebie*; see also prize.

premium, as compared here, implies a reward or prize offered as an inducement to buy, sell, or compete a toy given as a premium with each package; bonus refers to anything given over and above the regular wages, salary, or other remuneration. a Christmas bonus, a soldier's bonus; a bounty is a reward given by a government for a specific undertaking considered in the public interest, as the production of certain crops or the destruction of certain harmful animals; dividend refers to a prorated share in an amount distributed among stockholders or policyholders from profits or surplus See also syn. study at prize.

at a premium

costly, expensive, rare; see valuable 1.

premium Finance Definition
  1. A price that is above market prices.
  2. The amount that a policy holder pays an insurance company for coverage.
  3. In the options market, the cost of the option.
  4. In the futures market, an upward adjustment in price that is allowed for delivery of a commodity of a higher grade against a futures contract.
premium Law Definition

n

  1. Money paid to an insurer in exchange for coverage.
  2. Money paid by a buyer for an option to buy stock or property.
  3. A reward for a job after it has been done.
premium Usage Examples

Converse of object

  • pay: However, you must continue to pay the premium each month for cover to remain valid.

Adjective modifier

  • monthly: House only to responsible for the your monthly premium.
  • adjusted: Adjusted premium from of statistically greater send the premiums.
  • carer: The Carer Premium The carer premium is not a benefit in itself.

Modifies a noun

  • lager: The Olympics has the highest level of interest of all sports among premium lagers, on a par with the World Cup.
  • bond: At age 16: You can buy premium bonds.
  • sms: IPX will be used to support premium SMS and WAP payment services in Scandinavia.
  • rate: Some premium rate services on mobile phones may use short access codes.
  • brand: For Wal-Mart, Levi's Signature line will be a premium brand.
  • pr: Less likely to of health based premium pr eligible in place child health plus insurance prior.

Noun used with modifier

  • insurance: Insurance premium assuming your camp are away on business.
  • ln: Programs for newly differential ln premium to create a. We do our what is best.
  • pensioner: Pensioner Premium For all claimants ( or their partners ) aged between 60 and 74.
  • delta: Not imagine he's years ago and eligible offer delta premium.
premium Quotes

Thereisprobablyagreater premiumontemperamentfor a batsman than for any player in any branch of sport.

—Bradman, Sir Don(ald George)