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Definition of premium
1a : a reward or recompense for a particular actb : a sum over and above a regular price paid chiefly as an inducement or incentivec : a sum in advance of or in addition to the nominal value of something bonds callable at a premium of six percentd : 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
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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
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Then, during World War II, almost everything road trip-related was rationed, with tires, gasoline and leisure time at a premium.
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Carney proposed saving $3.5 million by eliminating a state benefit allowing spouses who are both active or retired state workers to pay a combined health insurance premium of only $25 a month.
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The proposal would allow insurers to charge older people up to five times more than others, which could mean lower premiums for younger people.
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Stronger credits and lower premiums would seem designed to make exchange plans more affordable and less volatile under the BCRA than under the AHCA, and the CBO found just that.
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Under that proposal, people who went more than 63 days without coverage would have to pay a premium surcharge of 30 percent.
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A slightly stronger version would default people into coverage, charging a premium rather than a penalty, while allowing people to opt out.
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Like its counterpart legislation in the House, the Senate package would maintain federal subsidies for Obamacare insurance premiums — including policies sold through the Covered California health exchange — for two more years.
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The Queen Anne Enclosure is the equivalent of flying premium economy.
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.
Origin and Etymology of premium
Latin praemium booty, profit, reward, from prae- + emere to take, buy — more at redeem
Other Business Terms
premium
Definition of premium
: of exceptional quality or amount; also : higher-priced
Examples of premium in a Sentence
lavish feasts at which premium wines flowed freely
Recent Examples of premium from the Web
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Senate GOP bill: Premium subsidies are keyed to income, age and geography, and are more tightly focused on lower-income people.
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Premium subsidies are available to those who earn less than 400 percent of the poverty level (about $48,240 for an individual and $98,400 for a family of four).
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The Gala event will feature a tri-content culinary experience where attendees can enjoy delicacies from Asia, Europe and South America, including an open bar with premium liquors.
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Leno will earn $1.797 million this season in the final year of his rookie contract at a position that commands premium pay for veteran starters.
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Premium sports content is key to drive subscriber growth and that’s why the value of rights has increased.
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Lot prices start in the low $70,000s, with premium view lots ranging in price from $120,000 to $145,000.
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For an additional $350, the Sugar Shack also offers bottle service which includes one bottle of premium liquor of your choice on Friday and Saturdays.
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Premium ingredients top a fine, crispy yet chewy crust like nonna Isola must have made.
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.
First Known Use of premium
1844
PREMIUM Defined for English Language Learners
premium
playDefinition of premium for English Language Learners
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: the price of insurance : the amount paid for insurance
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: a price that is higher than the regular price
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: a high or extra value
premium
Definition of premium for English Language Learners
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: high or higher than normal
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: of high or higher than normal quality
PREMIUM Defined for Kids
premium
playDefinition of premium for Students
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.
Law Dictionary
premium
playLegal 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
Learn More about premium
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Thesaurus: All synonyms and antonyms for premium Spanish Central: Translation of premium Nglish: Translation of premium for Spanish speakers Britannica English: Translation of premium for Arabic speakers Britannica.com: Encyclopedia article about premium
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