premium

noun pre·mi·um \ ˈprē-mē-əm \

Updated on: 14 May 2018

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

A few weeks later, every school in the state shut down as teachers rallied outside the Capitol, angry about a meager 1 percent raise and rising health insurance premiums.

— alexia fernández campbell, Vox, "Richard Ojeda’s West Virginia primary win gives Democrats their best chance to turn coal country blue," 9 May 2018
The union has also asked the district to increase its monthly contributions to health insurance premiums by $130, bringing that total to $1,775 per person per month.

— tegan hanlon, Anchorage Daily News, "Hundreds of Anchorage teachers rally as contract battle continues," 8 May 2018
The Republican Study Committee, a group of more than 150 conservative House Republicans, has called for cutting many commodity subsidies and shrinking taxpayer support for farmers’ crop-insurance premiums in the group’s budget.

— heather haddon, WSJ, "House Republicans Tackle Next Battle: Wooing Their Own on Farm Bill," 6 May 2018
Insurance premiums and taxpayer dollars fund the program, to the tune of about $3 billion a year.

— jeff glor, CBS News, "Federal program meant to help flood victims spends millions fighting claims," 30 Apr. 2018
Health insurance premiums have risen an average of more than 100 percent from 2013 to 2017, according to the AG's office.

— anna beahm, AL.com, "Alabama joins lawsuit against the Affordable Care Act," 28 Apr. 2018
Health risk largely focuses around large or unexpected out-of-pocket expenses for both insurance premiums and expenses not covered by insurance, according to the Vanguard report.

— russ wiles, azcentral, "Health costs in retirement: 5 things you should know," 22 Apr. 2018
Health insurance premiums for individual policies had shot up by as much as 67 percent, among the steepest increases in the country.

— michael olive, The Christian Science Monitor, "States adopt 'reinsurance pools' to keep premiums low," 10 Apr. 2018
The systems help reduce insurance premiums and claims costs for fleet operators – many of whom are self-insured.

— mike freeman, sandiegouniontribune.com, "San Diego's Lytx brings in new investors to support growth in fleet video technologies," 6 Apr. 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.

Origin and Etymology of premium

Latin praemium booty, profit, reward, from prae- + emere to take, buy — more at redeem

NEW! Time Traveler

First Known Use: 1601

in the meaning defined at sense 1a

See Words from the same year

premium Synonyms

Synonyms

accolade, award, blue ribbon, decoration, distinction, honor, kudo, plume, prize;

applause, bravo, encomium, eulogy, hallelujah, homage, paean, panegyric, plaudit, tribute;

citation, commendation, compliment, honorable mention;

Other Business Terms

amortize, caveat emptor, clearinghouse, divest, due diligence, emolument, green-collar, marque, overhead, perquisite

premium

adjective

Definition of premium

: of exceptional quality or amount; also : higher-priced

See premium defined for English-language learners

Examples of premium in a Sentence

lavish feasts at which premium wines flowed freely

Recent Examples of premium from the Web

On the other hand, the availability of an $85 five-course chef’s tasting menu with wine pairings points in a more premium direction.

— kate washington, sacbee, "If Allora can learn to relax a little, it will be one of the city's best restaurants | The Sacramento Bee," 11 May 2018
At this location, that meant adding options both for bargain shoppers and those looking for premium goods, and beefing up a popular deli section.

— lawrence specker, AL.com, "After setbacks, Winn-Dixie reinvigorating its stores," 3 May 2018
Certain tours offer extra amenities not covered in basic registration costs and may include a premium trip fee.

— jessi virtusio, Post-Tribune, "Indiana Dunes birding festival offers full weekend of events," 2 May 2018
About Texas Land & Lakes Texas Land and Lakes has made its mark and its reputation by creating premium waterfront land for sale in Texas.

— Houston Chronicle, "Buyers can take advantage of buying opportunity in Matagorda Bay," 29 Apr. 2018
Separately, exit row seating now will cost extra, similar to premium class.

— scott mcmurren, Anchorage Daily News, "Here’s what we know about Alaska Airlines’ new ‘Saver Fares’ – its cheapest class of tickets," 28 Apr. 2018
Flickr, the nearly dormant photo site oncebeloved by millions, has been acquired by premium photo-sharing website SmugMug, which vows to revive the service.

— jefferson graham, USA TODAY, "Yes Alexa, we'll be seeing a lot more talking TVs this year," 21 Apr. 2018
An event allowing patrons to explore premium seating options will be announced later this spring.

— tom groeschen, Cincinnati.com, "Cincinnati Bearcats: Fans can get first look at 2018 football team Saturday," 13 Apr. 2018
Luxury Growth L’Oreal’s four biggest luxury names and the division that sells premium skincare brands like Vichy, all grew by more than 10 percent during the quarter, boosted by demand in China.

— Bloomberg.com, "L’Oreal Rides Wave of China Demand While Taking CeraVe Global," 12 Apr. 2018

First Known Use of premium

1844

in the meaning defined above

See Words from the same year

NEW! Time Traveler

premium Synonyms

PREMIUM Defined for English Language Learners

premium

noun

Definition of premium for English Language Learners

: 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

Definition of premium for English Language Learners

: high or higher than normal
: of high or higher than normal quality

PREMIUM Defined for Kids

premium

noun pre·mi·um \ ˈprē-mē-əm \

Definition 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

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

Learn More about premium

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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premium

Definition of premium

Examples of premium in a Sentence

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Origin and Etymology of premium

premium Synonyms

Synonyms

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Other Business Terms

premium

Definition of premium

Examples of premium in a Sentence

Recent Examples of premium from the Web

First Known Use of premium

premium Synonyms

Synonyms

Antonyms

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Related Phrases

PREMIUM Defined for English Language Learners

premium

Definition of premium for English Language Learners

premium

Definition of premium for English Language Learners

PREMIUM Defined for Kids

premium

Definition of premium for Students

Law Dictionary

premium

legal Definition of premium

Learn More about premium

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