define premium - Search
  1. Dictionary

    pre·mi·um
    [ˈprēmēəm]
    noun
    premium (noun) · premiums (plural noun)
    1. an amount to be paid for an insurance policy.
    2. a sum added to an ordinary price or charge:
      "customers are reluctant to pay a premium for organic fruit"
      • a sum added to interest or wages; a bonus.
      • relating to or denoting a commodity or product of superior quality and therefore a higher price:
        "premium beers"
      • stock market
        the amount by which the price of a share or other security exceeds its issue price, its nominal value, or the value of the assets it represents:
        "the fund has traded at a premium of 12%"
    3. something given as a reward, prize, or incentive:
      "the Society of Arts awarded him a premium"
    Origin
    early 17th century (in the sense ‘reward, prize’): from Latin praemium ‘booty, reward’, from prae ‘before’ + emere ‘buy, take’.
    Translate premium to
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    Similar and Opposite Words
    noun
    1. an amount to be paid for an insurance policy.
      insurance charge
      insurance payment
      regular payment
    2. a sum added to an ordinary price or charge:
      additional payment
      extra amount/charge
      additional fee
    3. something given as a reward, prize, or incentive:
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  2. People also ask
    What is insurance premium?The purchase price of an insurance policy or the regular payments required by an insurer to provide coverage for a defined period of time. The total cost to buy an option contract (often synonymous with its market price). Premium can mean a number of things in finance—including the cost to buy an insurance policy or an option.
    What is an example of a premium?a prize or bonus given, for example, when purchasing a product, as a way of increasing sales: The premium was a little gadget to hold your toothbrush. Business the amount paid in installments by a policyholder for coverage, as for insurance: Car insurance premiums have skyrocketed. great value: puts a high premium on loyalty.
    What does 'premium' mean?Get a quick, free translation! PREMIUM meaning: 1. an amount that is more than usual: 2. an amount of money paid to get insurance: 3. the highest…. Learn more.
    Is premium a noun or adjective?When premium is a noun, it means the money you pay each month for your car insurance or a charge that's added on top of a standard payment. It also means a prize or reward. As an adjective, premium implies something of superior quality that probably costs more too. Premium comes straight out of Latin, meaning “reward.”
     
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