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

But also health care is huge right now because the Trump administration has gotten rid of the individual mandate, and there’s concern that there’s going to be large increases in premiums and problems for people who are on the exchanges and things. Li Zhou, Vox, "The striking parallels between 1992’s “Year of the Woman” and 2018, explained by a historian," 2 Nov. 2018 And, like many other workers, many employees are being pinched by the rising cost of premiums, Speer said. Reed Abelson, The Seattle Times, "Who’s reinventing health benefits? One of the most hated companies in the U.S.," 4 Sep. 2018 The move saved Trump nearly $18,000 in health insurance premiums, Cintron charged. Kevin Mccoy, USA TODAY, "President Trump's personal driver for 25 years sues for unpaid overtime wages," 9 July 2018 By being one of the few premium wide receivers who is not a prima donna and takes serious pride in his dirty work (including blocking), Jones is one of the NFL’s most respected players. Andy Benoit, SI.com, "How the Julio Jones Holdout Must Play Out," 13 June 2018 The department encouraged homeowners and business owners to contact their insurance companies to advise them of the new rating for a possible decrease in premiums. Robert Rhoden, NOLA.com, "Mandeville-area fire department attains enviable Class 1 rating," 4 June 2018 The increase is largely due to an 8 percent increase in staff health insurance premiums, according to budget data. Genevieve Bookwalter, chicagotribune.com, "Oakton ends current fiscal year with surplus, enters FY19 looking to set aside additional $40M for pensions," 25 May 2018 Consumers who buy insurance on the individual market pay an average of $503 a month in premiums. Catherine Ho, San Francisco Chronicle, "Shaped by AIDS crisis, Covered California’s leader champions health access," 20 May 2018 Among them are nursing-home costs, insurance premiums paid with after-tax dollars, prostheses, eyeglasses, and even a wig if needed after chemotherapy, among others. WSJ, "WSJ Tax Guide 2019: Medical-Expenses Deduction," 15 Feb. 2019

Recent Examples on the Web: Adjective

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 Lenovo is making some changes to its premium lineup—though only diehard fans (and a tech reporter) may notice. Valentina Palladino, Ars Technica, "Lenovo Yoga C930 2-in-1 review: Hidden features in all the right places," 26 Oct. 2018 That said, the Elitebook x360 remains one of the most premium business notebooks available. Valentina Palladino, Ars Technica, "HP Elitebook x360 1030 review: Small tweaks made to a stylish work 2-in-1," 16 Nov. 2018 And thanks to exclusively business class and premium economy long haul flights on Singapore Airlines, spending nearly 19 hours in the air didn't actually suck. Cnt Editors, Condé Nast Traveler, "A Year in Travel 2018: Travelogue Podcast," 28 Dec. 2018 All of these things are also under the Magnolia brand (arguably even Waco, once known for the Branch Davidians; now still known for the Branch Davidians, and also many colors of premium paint). Rachel Sugar, Vox, "The Property Brothers’ empire, explained," 14 Nov. 2018 While some may want more premium build materials from a $350 headphone, the hard plastic here has proven sturdy enough. Jeff Dunn, Ars Technica, "The Ars Holiday Gift Guide 2018—tech and gear for travel that we’d buy," 13 Nov. 2018 Seven Seas Voyager, Mariner, Explorer, and Navigator—indulge guests with all-inclusive features like unlimited shore excursions, open bars with premium wines (and in-room minibars), unlimited Wi-Fi, and dining in specialty restaurants. Condé Nast Traveler, "The Best Cruise Lines in the World: 2018 Readers' Choice Awards," 9 Oct. 2018 For example, Lufthansa passengers can update not only to first class but to business or premium economy seats. Aditi Shrikant, Vox, "Airlines’ latest customer shakedown? Making you bid for a seat upgrade.," 14 Sep. 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

18 Mar 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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