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premiumMain Entry: 1pre·mi·um Pronunciation: \ˈprē-mē-əm\ Function: noun Etymology: Latin praemium booty, profit, reward, from prae- + emere to take, buy — more at redeem Date: 1601 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
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