premium

[ pree-mee-uhm ]

noun

1. a prize, bonus, or award given as an inducement, as to purchase products, enter competitions initiated by business interests, etc.
2. a bonus, gift, or sum additional to price, wages, interest, or the like.

   Synonyms: reward

3. Insurance. the amount paid or to be paid by the policyholder for coverage under the contract, usually in periodic installments.
4. Economics. the excess value of one form of money over another of the same nominal value.
5. a sum above the nominal or par value of a thing.
6. the amount paid to the lender of stock by the borrower, typically a short seller.
7. the amount the buyer of a call or put option pays to the seller, quoted in dollars per share of stock.
8. a fee paid for instruction in a trade or profession.
9. a sum additional to the interest paid for the loan of money.

adjective

1. of exceptional quality or greater value than others of its kind; superior:

   a wine made of premium grapes.

2. of higher price or cost.
3. of or relating to premiums:

   to work in premium sales.

premium

/ ˈpriːmɪəm /

noun

1. an amount paid in addition to a standard rate, price, wage, etc; bonus
2. the amount paid or payable, usually in regular instalments, for an insurance policy
3. the amount above nominal or par value at which something sells
4. 1. an offer of something free or at a specially reduced price as an inducement to buy a commodity or service
   2. ( as modifier )

      a premium offer

5. a prize given to the winner of a competition; award
6. an amount sometimes charged for a loan of money in addition to the interest
7. great value or regard

   to put a premium on someone's services

8. a fee, now rarely required, for instruction or apprenticeship in a profession or trade
9. at a premium
   1. in great demand or of high value, usually because of scarcity
   2. above par

Other Words From

• non·premi·um noun
• super·premi·um adjective noun

Word History and Origins

Origin of premium¹

First recorded in 1595–1605, premium is from the Latin word praemium profit, reward

Word History and Origins

Origin of premium¹

C17: from Latin praemium prize, booty, reward

Idioms and Phrases

Idioms

1. at a premium,
   1. at an unusually high price.
   2. in short supply; in demand:

      Housing in that area is at a premium.

More idioms and phrases containing premium

see at a premium ; put a premium on .

Synonym Study

See bonus.

Example Sentences

While some publishers, such as Slate, charge a premium for the audience segments identified using their first party data, Forte does not cost extra, in part because Vox Media wants to encourage as many clients as possible to try it out.

From Digiday

The proposal would provide subsidies amounting to 85 percent of premiums through that program.

From Washington Post

Other companies — including anime specialist Crunchyroll, premium TV network Starz and production company World of Wonder — are also counting on their content to convince people to stay subscribed to their services.

From Digiday

It’s worth the cost of the subscription on its own, but EC members also get access to our premium content, including market maps and investor surveys.

From TechCrunch

That’s meant contracting directly with wheat farmers and guaranteeing a premium price for growing their product.

From Outside Online

Apple customers, on the other hand, are used to paying premium for perceived quality.

From The Daily Beast

They then become members of the ultra elite Unit 121, granted premium housing and a well-stocked cupboard.

From The Daily Beast

The lucky recipient gets to choose from a selection of gifts ranging from cocktail kits to packages of wine and premium spirits.

From The Daily Beast

That is, Republican state insurance commissioners can approve big premium hikes just to make the law look bad.

From The Daily Beast

Christie, who places a premium on the fact that he was cool in high school, sounds conservative memes without invoking the Divine.

From The Daily Beast

It is doubtful whether the huge commercial premium that greets success to-day does good or harm.

From Project Gutenberg

The premium usually must be paid at the time of issuing the policy, unless a different agreement is made concerning it.

From Project Gutenberg

The payment of the premium by a third person without the knowledge of the insured does not have the same effect.

From Project Gutenberg

In mutual life insurance companies a portion of the premium is often paid in this manner.

From Project Gutenberg

A coolie would pay as much as 400 pesos premium to find himself where he could earn up to 100 pesos per month.

From Project Gutenberg

Related Words

• dividend
• fee
• stock
• value