premium

noun pre·mi·um \ 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 premium defined for English-language learners

See premium defined for kids

Examples of premium in a Sentence

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.

Recent Examples of premium from the Web

Founded in 2002 by Peter Kim, the premium denim and apparel brand is celebrating its 15-year anniversary — and what better way to do so than featuring the next generation of fresh faces?

— teryn payne, Teen Vogue, "Kaia Gerber and Gabriel-Kane Day Lewis Star in Hudson Denim Ad," 16 Aug. 2017
The Congressional Budget Office projects that eliminating the Affordable Care Act’s cost-sharing subsidies would increase premiums by 2018 and increase the deficit by $194 billion in the next ten years.

— elaine godfrey, The Atlantic, "The Atlantic Politics & Policy Daily: ‘Some Very Fine People on Both Sides’," 15 Aug. 2017
Hotel rooms start with queen-size beds, most organized tours charge a premium for solo travelers, and every damn deal on Travelzoo bases its per-person prices on double occupancy.

— andrea bartz, Redbook, "Why I Stopped Waiting for a Partner & Started Traveling the World," 10 Aug. 2017
Uchida’s eels, with their pale blue-gray skin and soft pink bellies, have a highly sought-after, light and clean flavor that fetches premium prices even in the pricey unagi market.

— sherry zheng, The Seattle Times, "New hope for endangered eels, Japanese summer delicacy," 9 Aug. 2017
That number includes a new premium vintage from Argentina and Summer in a Bottle, a Long Island rosé that sold out right after July 4.

— larissa zimberoff, chicagotribune.com, "Rosé is all the rage this summer: 'We drink rosé like it's Bud Light’," 4 Aug. 2017
Collateral protection insurance policies were created for customers, and Wells Fargo then would add premium charges to customers’ auto loan bills, often without notifying them, according to the lawsuit.

— laura j keller, Bloomberg.com, "Wells Fargo Customers Sue Claiming Insurance Scheme Was Scam," 31 July 2017
The employees could select either a lump-sum payment or five years of supplemental health insurance at the same relatively low premium that full-time county employees paid for their health insurance package, the decision said.

— carrie napoleon, Post-Tribune, "Judge: Lake County did not discriminate against senior workers fired amidst financial crisis," 28 July 2017
Not only is the Swoosh dropping a new round of colorways for the OG Air Max 97 on August 1, but there's a premium version hitting on August 4 and a completely new interpretation of the silhouette—the Air Max 97 Ultra—coming out on August 5.

— jonathan evans, Esquire, "Nike Sportswear's Design Director on the New Breed of Air Max 97s," 24 July 2017

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.