premium

noun
pre·​mi·​um | \ ˈprē-mē-əm How to pronounce premium (audio) \

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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Synonyms & Antonyms for premium

Synonyms: Noun

accolade, award, blue ribbon, decoration, distinction, honor, kudo, plume, prize

Synonyms: Adjective

big-ticket, costly, dear, expensive, extravagant, high, high-end, high-ticket, precious, priceless, pricey (also pricy), spendy [chiefly Northwest], ultraexpensive, valuable

Antonyms: Adjective

cheap, inexpensive

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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

Such systems could raise insurance premiums, likely dissuading some consumers from choosing such a vehicle when the time comes. Anthony Alaniz, Popular Mechanics, "When Are Self-Driving Cars Actually Coming?," 25 Apr. 2019 Space is premium, especially for those living in apartments or condos, and these picks will still offer your family plenty of room for fresh food storage. Betty Gold, Good Housekeeping, "7 Best Counter-Depth Refrigerators to Buy in 2019, Reviewed By Kitchen Appliance Experts," 27 Feb. 2019 Advertising The Senate plan also raises a tax on insurance premiums to 2.52 percent, from the existing 2 percent. Joseph O’sullivan, The Seattle Times, "Washington Senate lawmakers propose a budget with a different idea for a capital-gains tax," 29 Mar. 2019 This can help reduce Medicare premiums that rise with income and taxes on other investment income. WSJ, "WSJ Tax Guide 2019: Retiree Tax Issues," 15 Feb. 2019 The West Virginia teachers went on strike over rising health care costs, eventually securing a pay bump and a freeze on insurance premiums. Dylan Scott, Vox, "Is employer-sponsored insurance really a good deal for workers?," 7 Feb. 2019 The average cost of insurance premiums in the city is $5,414 per year, more than twice the state average and nearly four times the national average. The Economist, "Why Detroit is the most expensive city in America to buy car insurance," 5 July 2018 The nonpartisan Congressional Budget Office projects that those two actions will result in an older, sicker insurance pool and drive up premiums. Joshua Green, Bloomberg.com, "The Dems Take Obamacare on the Road," 25 June 2018 PepsiCo is acquiring all of SodaStream’s outstanding shares at $144 per share, a 32 percent premium to the 30-day volume weighted average price. Aron Heller, The Seattle Times, "PepsiCo buys SodaStream for $3.2 billion," 20 Aug. 2018

Recent Examples on the Web: Adjective

Some stock tank swimming pool owners add surrounding rock tiles to provide makeshift flooring, while others splurge on premium wooden decks and siding. Jessica Leigh Mattern, Country Living, "Stock Tank Pools Will Be More Popular Than Ever This Summer," 9 May 2019 For example, as Facebook competes for premium video content with rival tech giants including Amazon.com Inc., Alphabet Inc. Georgia Wells, WSJ, "Facebook Begins New Year in Fixer-Upper Mode," 3 Jan. 2019 The changes include the resumption of flights at Ontario, more flights at Burbank and the expansion of seasonal service to Palm Springs, with the addition of premium Mint service during the holidays. Bart Jansen, USA TODAY, "JetBlue adds flights to Ontario, Steamboat Springs and Bozeman, but reduces flights at Long Beach," 25 Apr. 2018 The Brooklynite Since Jeret Peña opened it in 2012, The Brooklynite has been one of the most highly regarded watering holes in San Antonio, with an emphasis on premium ingredients and an inventive seasonal cocktail menu. Emily Spicer, San Antonio Express-News, "The 10 best bars in San Antonio," 4 June 2018 The meat is ground to order—why it’s touted as so fresh—and sourced from premium ingredients. Fortune, "The World's First Robot-Made Burger Is Here," 27 June 2017 In casino halls packed into this city’s premium high-rise office towers, young, skimpily dressed croupiers deal cards and flash winning smiles for Chinese gamblers. Jake Maxwell Watts, WSJ, "Virtual Casinos Deliver a Tricky Jackpot to the Philippines," 19 Mar. 2019 On the technology side, look for premium audio systems with waterproof speakers that can be integrated into your hot tub, as well as a mobile phone apps for remote operation and monitoring. Timothy Dahl, Popular Mechanics, "How to Buy a Hot Tub That Your Whole Family Will Enjoy," 30 Jan. 2019 Singapore Airlines has configured its long-haul aircraft with just premium economy and business class seats—something Qantas is now taking into consideration for its ultra-long-haul aircraft of the future. Kristen Leigh Painter, Condé Nast Traveler, "How Air Travel Will Change in 2019," 13 Dec. 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

13 May 2019

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 How to pronounce premium (audio) \

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 How to pronounce premium (audio) \

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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