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

Comcast earlier this year unveiled a £22.0 billion ($31 billion) takeover offer for Sky, or £12.50 per share, a 16 percent premium to Fox's original bid. Georg Szalai, The Hollywood Reporter, "What's Next in the Bidding War for Sky?," 13 July 2018 Firms such as State Farm offer discounts of up to 10 percent on monthly premiums to those with traditional security systems such as ADT or Vivint. Diane Cowen, San Antonio Express-News, "Home security is more affordable — and better —than ever," 12 July 2018 The whole package seems a little more premium than most of its competitors and the cabin now seems more midsize than compact. Mark Maynard, sandiegouniontribune.com, "2019 Volkswagen Jetta: 7th generation wide-body reboot," 6 July 2018 First, periwinkle blue bathrooms can sell for as much as a $6,000 premium. Melissa Locker, Southern Living, "Painting Your Front Door This Color Can Increase Your Home's Selling Price," 4 July 2018 First, periwinkle blue bathrooms can sell for as much as a $6,000 premium. Melissa Locker, ajc, "Painting your front door this color can increase your home's selling price," 3 July 2018 Less than 9 percent of premiums goes to covering customer claims, an extraordinarily low number, insurance experts said. Peter Whoriskey, courant.com, "Unsolicited checks can be a lifeline and an albatross," 2 July 2018 Prices are in more line with those conventional compacts, though, so there’s no big cost premium for the hybrid drive system. G. Chambers Williams Iii, Houston Chronicle, "Hyundai’s 2018 Ioniq Hybrid has starting price of $22,200," 1 July 2018 The deal represents an 18 percent premium to Convergys stock closing price on May 10 before industry speculation began to push Convergys shares upward. Alexander Coolidge, Cincinnati.com, "Convergys being sold to California company," 28 June 2018

Recent Examples on the Web: Adjective

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 The increase also reflects a shift to heavier paper stock and a larger page format intended to spotlight its photojournalism while recasting the magazine as a more premium product. Jeffrey A. Trachtenberg, WSJ, "Cardi B, Live Events, Fewer Issues: Meet the New Rolling Stone," 2 July 2018 He was taken with Maytag’s model of choosing not to compete with cheap light lagers, but instead sell premium products at premium prices. Josh Noel, chicagotribune.com, "How Goose Island sale to Anheuser-Busch changed craft beer; new book by Tribune beer writer Josh Noel," 9 May 2018 The interior has an upscale look and feel, with premium materials throughout. G. Chambers Williams Iii, Houston Chronicle, "Mazda CX-5: Crossover gets upgrades for 2018, including more safety tech," 22 Apr. 2018 Microsoft’s Surface devices have been showcases—computers made with premium materials that have sleek designs intended to highlight the capabilities of the Windows operating system and spark creativity among its hardware partners. Jay Greene, WSJ, "Microsoft Adds a Lower-Cost Tablet in Challenge to Apple’s iPad," 9 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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Statistics for premium

Last Updated

16 Sep 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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Comments on premium

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