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

In the 1990s the company started selling its ice cream as a premium, indulgent treat. The Economist, "The murky world of Madagascar’s roaring vanilla trade," 5 July 2019 Expensive Season Ticket: £811 Almost slap bang in the middle of this list, Southampton also offer a premium season ticket price which is very expensive given their finish just five points above the relegation zone last season. SI.com, "Ranking the Average Prices of Premier League Club's Season Tickets Ahead of 2019/20 Season," 4 July 2019 Under past contracts, school administrators were required to contribute toward premiums at the same level as other licensed professional staff, which includes teachers and others covered by the education association’s contract. Karen Berkowitz, chicagotribune.com, "Township High School District 113 to provide top administrators with added health insurance benefit," 3 July 2019 The basic plan is $8.99 a month, while the standard and premium plans are $12.99 and $15.99, respectively. Alexis Jones, Harper's BAZAAR, "How to Watch Stranger Things Season 3 Online," 3 July 2019 People will put premium gas in their car, but not premium food in their bodies. Susan Selasky, Detroit Free Press, "Plum Market opens downtown Detroit store on Wednesday," 2 July 2019 By the end of 2020, Rivian intends to begin producing premium electric vehicles, with a greater range than anything on the road today. Nelson D. Schwartz, New York Times, "Meet the Man Quietly Building the Tesla of Trucks, With Jeff Bezos Aboard," 2 July 2019 The first value is premium positions: two-way centers, right-handed defensemen and elite goaltenders. Richard Morin, azcentral, "More than a bruiser: Coyotes see tremendous potential in Lawson Crouse after new contract," 2 July 2019 Many shareholders argued that Ocata was worth more than the nearly 80 percent premium on the stock price Astellas offered, while some objected to the biotech’s potentially groundbreaking technology being sold to a foreign company. Jonathan Saltzman, BostonGlobe.com, "Stem-cell biotech seeing strong growth," 2 July 2019

Recent Examples on the Web: Adjective

The aim is for the Puma to tempt customers away from the small SUVs being sold by European brands such as Renault and Peugeot—and, perhaps surprisingly, also from premium compact-car brands such as BMW’s Mini. David Meyer, Fortune, "Ford's New Plan for Europe: Fewer Jobs, More SUVs," 27 June 2019 The planes would have sections for first class, business, premium economy, and economy passengers. Angus Whitley, https://www.inquirer.com, "World’s longest flight — Sydney to London — to be even less comfortable than expected," 5 June 2019 Nakayama uses a 50-50 blend of premium Japanese koshihikari rice and California short-grain rice. Genevieve Ko, latimes.com, "Master Class: Michelin-starred n/naka chefs on how to make the perfect onigiri," 13 June 2019 Though there are cheaper 2-in-1s that support ChromeOS, this one provides one of the most premium user experiences. Paige Szmodis, Popular Mechanics, "The Best Touchscreen Laptops of 2019," 30 Apr. 2019 The William Vale Every room at this modern, art-centric abode boasts a balcony for premium skyline views. Taylore Glynn, Marie Claire, "Your Beauty Guide to Brooklyn," 16 Apr. 2019 Readers also praise its premium economy section, which has pleasing touches like hot towels and a welcome drink. 7. Condé Nast Traveler, "The Best International Airlines: 2018 Readers' Choice Awards," 9 Oct. 2018 The rap is on the consumption of oil as well as the need for premium gas. Bob Weber, chicagotribune.com, "Turbo or not turbo? Motormouth updates old auto myths," 8 Oct. 2017 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

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

8 Jul 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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