premium

noun
pre·​mi·​um | \ ˈprē-mē-əm \

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

Not to mention the fact that speeding tickets significantly up the insurance premiums for new drivers (but enough of the lecturing!). Seventeen Editors, Seventeen, "7 Driving Tips For Teens That'll Seriously Help You Become a Pro On The Road," 14 Dec. 2018 The company is committed to using only the finest premium down fills, sourced from European mills, and woven to exact specifications. Sienna Fantozzi, House Beautiful, "Everything You Need To Know About Scandia Down Comforters," 20 Nov. 2018 In fact, this year will see the addition of 23 insurers during open enrollment, and in some places premiums have actually gone down. Sarah Jacoby, SELF, "Heads Up: You Can Still Sign Up for Obamacare and Open Enrollment Is Going On Right Now," 14 Nov. 2018 After two years as the premium streaming service for classic American and foreign movies, FilmStruck is shutting down as of Nov. 29. Sean Axmaker, The Seattle Times, "Now streaming: Orson Welles’ ‘The Other Side of the Wind’; Julia Roberts in ‘Homecoming’," 31 Oct. 2018 In addition to the building boom near campuses, the premium placed on innovation has led to a new generation of satellite campuses. Patrick Sisson, Curbed, "Universities, chasing the startup economy, reshape urban real estate," 7 Aug. 2018 Nearly 9 in 10 people buying coverage on the ACA exchanges qualify for federal subsidies based on their incomes, and the amount those subsidies rose last year because of an increase in silver-plan premiums. Phil Galewitz, Washington Post, "Outrageous Or Overblown? HHS Announces Another Round Of ACA Navigator Funding Cuts," 12 July 2018 Instead, CareSource is seeking an average 10 percent increase in premiums, according to its rate request recently filed with the Indiana Department of Insurance. Maureen Groppe, Indianapolis Star, "Insurers partly blame Obamacare rate increase in Indiana on end of individual mandate," 22 June 2018 For service businesses, there was ambiguity around cost markups for services in foreign countries—for example, when a U.S. parent pays a premium to its foreign subsidiary to perform a service. Richard Rubin, WSJ, "New Treasury Rules Extend Tax Relief to Foreign Banks," 13 Dec. 2018

Recent Examples on the Web: Adjective

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 Samsung already launched the Note 9 to cap off its premium lineup, and unless the fabled folding phone actually makes its debut, that should be it for 2018 Galaxy flagships. Michael Simon, PCWorld, "Samsung teases a quad-camera Galaxy because smartphones are like razors now," 14 Sep. 2018 Bravo described it as the first-ever premium concession stand concept. Bob Bong, Daily Southtown, "Comings & Goings: ‘Top Chef’ concession stand opens at Toyota Park," 10 July 2018 The bad: Though fine for casual listening and strong enough to fill a room with music, the Echo still doesn’t sound as good as premium high-fidelity speakers. Cnet.com, The Seattle Times, "Hey, Alexa, which gadgets work the best with you?," 7 Nov. 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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Statistics for premium

Last Updated

7 Jan 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 \

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 \

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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