premium

noun
pre·​mi·​um | \ˈprē-mē-əm \

Definition of premium 

(Entry 1 of 2)

1a : 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

premium

adjective

Definition of premium (Entry 2 of 2)

: of exceptional quality or amount also : higher-priced

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Examples of premium in a Sentence

Noun

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.

Adjective

lavish feasts at which premium wines flowed freely
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Recent Examples on the Web: Noun

Fox, which has been trying to buy the pan-European group since December 2016, offered to pay 14 pounds ($18.49) per share, a 12 percent premium to Comcast's earlier offer. NBC News, "Comcast raises bid for Sky to $34 billion, tops Fox's offer," 11 July 2018 Smaller bank stocks have done somewhat better in 2018, lifted by the prospect of mergers in this part of the market where buyers pay a premium, according to Keefe, Bruyette & Woods Inc. analyst Christopher McGratty. Rachel Louise Ensign, WSJ, "Investors Look to Earnings to Snap Big-Bank Share Slump," 11 July 2018 Whisky drinkers have always been willing to pay a premium for quality, but a pair of sales in Hong Kong late last week have set the bar exceptionally high. Chris Morris, Fortune, "One Shot of This Whisky Costs $65,000," 21 May 2018 The man's mother is alive and qualifies for benefits, but does not receive them when the man fails to pay the premium. Andy Attina / Cleveland.com, cleveland.com, "Man asks for marijuana back after being cited for possession: Mayfield Heights Police Blotter," 9 May 2018 Aveda, the natural grooming company founded in 1978, helped usher in the concept that high-quality shampoo and soap was worth paying a premium for. Tyler Watamanuk, New York Times, "When Did Soap, Once Simple, Get So Complicated?," 11 July 2018 In other words, ISPs are prevented from throttling or blocking service to certain websites, and they are not allowed to charge a premium for any type of access. Kevin Kelleher, Fortune, "Brett Kavanaugh, Trump's Potential Supreme Court Nominee, Is No Friend to Net Neutrality," 10 July 2018 Medical malpractice insurance premiums for doctors at highest risk of being sued—like surgeons and OB/GYNs—can be more than $100,000 per year. Maya Dukmasova, Chicago Reader, "News / Criminal Justice Should Chicago cops have to carry misconduct insurance?," 29 June 2018 SUBSCRIBE TODAY Unbeknownst to the commissioners, Greene had the county prepay the initial payment and several years’ worth of annual premiums for each policy agreement, according to the indictment. Joe Marusak, charlotteobserver, "Former NC official now accused of stealing millions in taxpayer money, faces more charges," 5 June 2018

Recent Examples on the Web: Adjective

Each tee is 100% made and manufactured in America from premium cotton jersey. Sam Tornow, Billboard, "Eminem and Rag & Bone Team Up For Limited Edition Merch and Pop-Up Shop," 9 July 2018 Fortnite isn't just free to play—its gargantuan revenue coming from players buying costumes or subscribing to premium challenges—but it, like PUBG, can be played on mobile devices as well as on game consoles and PCs. Carter Melrose, WIRED, "Why Battle Royale Games Like Fortnite Are Everywhere (It’s Not Just Money)," 14 June 2018 Don’t waste money on premium gas, if your car doesn’t need it: Most cars are designed to run on regular gas. NBC News, "How to save money on gas and squeeze more miles out of every gallon," 25 May 2018 Both Maryhurst and the Speed Art Museum are offering a rare opportunity to get premium tickets for Kentucky Derby weekend. Kirby Adams, The Courier-Journal, "Here's your chance to win tickets and do the Kentucky Derby (and Oaks) like a celebrity," 10 Apr. 2018 In premium economy, the seat pitch — that is, the distance from one point on your seat to the exact point on the seat in front of you — is 38 inches. Catharine Hamm, latimes.com, "Singapore Airlines reintroducing nonstop LAX-Singapore flights," 11 July 2018 Owners of Labradors, shepherds and other big dogs should expect to spend $400 a year, on average, for premium brand dry dog food, according to the ASPCA. USA TODAY, "Don't let puppy love blind you to the expense of having a dog," 22 June 2018 The top of the line Touring trim could compete with premium brands such as Buick, Infiniti and Honda’s own Acura TLX. Robert Duffer, chicagotribune.com, "Believe the hype: 2018 Honda Accord is that good," 25 Jan. 2018 Remember, grain sorghum’s going into premium products. Lynn Brezosky, San Antonio Express-News, "Trade spats ‘new norm’ for sorghum growers, nail biter for Texas manufacturers," 6 July 2018

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'premium.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

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First Known Use of premium

Noun

1601, in the meaning defined at sense 1a

Adjective

1844, in the meaning defined above

History and Etymology for premium

Noun

Latin praemium booty, profit, reward, from prae- + emere to take, buy — more at redeem

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Learn More about premium

Statistics for premium

Last Updated

11 Nov 2018

Look-up Popularity

Time Traveler for premium

The first known use of premium was in 1601

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More Definitions for premium

premium

noun

English Language Learners Definition of premium

 (Entry 1 of 2)

: the price of insurance : the amount paid for insurance

: a price that is higher than the regular price

: a high or extra value

premium

adjective

English Language Learners Definition of premium (Entry 2 of 2)

: high or higher than normal

: of high or higher than normal quality

premium

noun
pre·​mi·​um | \ˈprē-mē-əm \

Kids Definition of premium

1 : a reward for a special act

2 : an amount above the regular or stated price There is a premium for overnight delivery.

3 : the amount paid for a contract of insurance health insurance premiums

4 : a high or extra value He put a premium on accuracy.

premium

noun
pre·​mi·​um | \ˈprē-mē-əm \

Legal Definition of premium 

1 : the difference between the face value or par value of a security and its market price when the latter is greater — compare discount

2 : the price paid for an insurance contract equal to the cost per unit times the number of units

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