premium
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About Our Definitions: All forms of a word (noun, verb, etc.) are now displayed on one page.1pre·mi·um
noun \ˈprē-mē-əm\Definition of PREMIUM
1
a : a reward or recompense for a particular act b : a sum over and above a regular price paid chiefly as an inducement or incentive c : a sum in advance of or in addition to the nominal value of something <bonds callable at a premium of six percent> d : something given free or at a reduced price with the purchase of a product or service
2
: the consideration paid for a contract of insurance
3
: a high value or a value in excess of that normally or usually expected <put a premium on accuracy>
See Examples of PREMIUM
- Health insurance premiums went up again this year.
- The monthly premium for your health insurance is deducted from your paycheck.
- Many customers are willing to pay a premium for organic vegetables.
Origin of PREMIUM
Latin praemium booty, profit, reward, from prae- + emere to take, buy — more at redeem
First Known Use: 1601
Related to PREMIUM
- Synonyms
- accolade, blue ribbon, decoration, distinction, honor, kudo, plume, award, prize
Other Business Terms
2premium
adjectiveDefinition of PREMIUM
: of exceptional quality or amount; also : higher-priced
Examples of PREMIUM
- <lavish feasts at which premium wines flowed freely>
First Known Use of PREMIUM
1844
Related to PREMIUM
- Synonyms
- big-ticket, dear, expensive, extravagant, high, high-end, high-ticket, precious, costly, priceless, pricey (also pricy), spendy [chiefly Northwest], ultraexpensive, valuable
- Antonyms
- cheap, inexpensive
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