pre·mi·um
ˈprē-mē-əm 
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
: of exceptional quality or amount
also
: higher-priced
Synonyms
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
Recent Examples on the Web
Florence Ion / Gizmodo, Quartz, 18 Apr. 2024
These properties, with ample space and premium amenities, cater to the evolving needs of modern travelers.
—Hilary Tetenbaum, USA TODAY, 18 Apr. 2024
Some California homeowners have been stung with massive increases in premiums — if not stripped of coverage altogether and forced onto the state’s last-resort FAIR Plan.
—John Woolfolk, The Mercury News, 17 Apr. 2024
UnitedHealth reported a rise in medical care ratio — the percentage of premiums spent on medical care — to 84.3% from 82.2% a year earlier.
—Reuters, NBC News, 17 Apr. 2024
Ample On-Barrel Controls and 120fps Focus Drive The FE 16-25mm F2.8 G justifies its $300 premium over the Sigma 16-28mm F2.8 in a couple of ways.
—PCMAG, 16 Apr. 2024
The Justice Department is looking into whether the health insurance company owned by Sentara Healthcare, a hospital system in Virginia, raised premiums too much a few years ago, Trevor Metcalfe of the Virginian-Pilot reports.
—Bob Herman Reprints, STAT, 15 Apr. 2024
Even though Apple still hasn’t extended its approval to aftermarket iPhone parts, the change is huge for repair shops and DIYers who have had to deal with paying a higher premium for new iPhone parts.
—Emma Roth, The Verge, 11 Apr. 2024
Increasingly, indie board game studios are using crowdfunding platforms to launch their games — offering stretch goals to upgrade certain elements to a premium look or feel.
—Saira Mueller, CNN, 11 Apr. 2024
Laurence Darmiento, Los Angeles Times, 19 Apr. 2024
And as Fortune recently reported, Elon Musk’s X platform is considering adding generative AI capabilities that can automatically compose tweets for premium users.
—Bysharon Goldman, Fortune, 18 Apr. 2024
Guyton is a former defensive end who primarily played right tackle for the Sooners, but has the prototypical size and premium athletic traits to switch to the left side in the pros.
—Eddie Brown, San Diego Union-Tribune, 18 Apr. 2024
Performance driving school in desert waits to welcome Ford Ranger Raptor owners
Powerful and efficient, but premium fuel raises cost of driving
The Land Cruiser measures 193.8 inches long, 0.3 inch longer than a Grand Cherokee.
—Mark Phelan, Detroit Free Press, 16 Apr. 2024
And NordVPN, our Editors' Choice winner for premium VPNs, gives you more features like multi-hop connections and Meshnet networking for the same monthly cost as IPVanish.
—PCMAG, 11 Apr. 2024
At the same time, the format’s irresistible mix of gamesmanship and gloss has helped reshape the landscape, fueling both streamers and linear broadcasters’ hunger for high-verve, premium fare.
—Ben Croll, Variety, 5 Apr. 2024
Central Park has a premium steak house, a sushi joint, and a used Rolex that can be bought for $8,000 on land here proudly offered at $17,000.
—Gary Shteyngart, The Atlantic, 4 Apr. 2024
Still, Peterson is convinced the Hornets’ gig is a premium opportunity.
—Roderick Boone, Charlotte Observer, 4 Apr. 2024
Noun
The series features three new models, from premium to mid-range, available in various finishes, from vegan leather (plastic) to wood.
—Florence Ion / Gizmodo, Quartz, 18 Apr. 2024
These properties, with ample space and premium amenities, cater to the evolving needs of modern travelers.
—Hilary Tetenbaum, USA TODAY, 18 Apr. 2024
Some California homeowners have been stung with massive increases in premiums — if not stripped of coverage altogether and forced onto the state’s last-resort FAIR Plan.
—John Woolfolk, The Mercury News, 17 Apr. 2024
UnitedHealth reported a rise in medical care ratio — the percentage of premiums spent on medical care — to 84.3% from 82.2% a year earlier.
—Reuters, NBC News, 17 Apr. 2024
Ample On-Barrel Controls and 120fps Focus Drive The FE 16-25mm F2.8 G justifies its $300 premium over the Sigma 16-28mm F2.8 in a couple of ways.
—PCMAG, 16 Apr. 2024
The Justice Department is looking into whether the health insurance company owned by Sentara Healthcare, a hospital system in Virginia, raised premiums too much a few years ago, Trevor Metcalfe of the Virginian-Pilot reports.
—Bob Herman Reprints, STAT, 15 Apr. 2024
Even though Apple still hasn’t extended its approval to aftermarket iPhone parts, the change is huge for repair shops and DIYers who have had to deal with paying a higher premium for new iPhone parts.
—Emma Roth, The Verge, 11 Apr. 2024
Increasingly, indie board game studios are using crowdfunding platforms to launch their games — offering stretch goals to upgrade certain elements to a premium look or feel.
—Saira Mueller, CNN, 11 Apr. 2024
Adjective
Also not being renewed are 1,624 dwelling fire and liability policies with a premium value of $1.7 million typically sold to owners of rental properties, as well as personal umbrella coverage.
—Laurence Darmiento, Los Angeles Times, 19 Apr. 2024
And as Fortune recently reported, Elon Musk’s X platform is considering adding generative AI capabilities that can automatically compose tweets for premium users.
—Bysharon Goldman, Fortune, 18 Apr. 2024
Guyton is a former defensive end who primarily played right tackle for the Sooners, but has the prototypical size and premium athletic traits to switch to the left side in the pros.
—Eddie Brown, San Diego Union-Tribune, 18 Apr. 2024
Performance driving school in desert waits to welcome Ford Ranger Raptor owners
Powerful and efficient, but premium fuel raises cost of driving
The Land Cruiser measures 193.8 inches long, 0.3 inch longer than a Grand Cherokee.
—Mark Phelan, Detroit Free Press, 16 Apr. 2024
And NordVPN, our Editors' Choice winner for premium VPNs, gives you more features like multi-hop connections and Meshnet networking for the same monthly cost as IPVanish.
—PCMAG, 11 Apr. 2024
At the same time, the format’s irresistible mix of gamesmanship and gloss has helped reshape the landscape, fueling both streamers and linear broadcasters’ hunger for high-verve, premium fare.
—Ben Croll, Variety, 5 Apr. 2024
Central Park has a premium steak house, a sushi joint, and a used Rolex that can be bought for $8,000 on land here proudly offered at $17,000.
—Gary Shteyngart, The Atlantic, 4 Apr. 2024
Still, Peterson is convinced the Hornets’ gig is a premium opportunity.
—Roderick Boone, Charlotte Observer, 4 Apr. 2024
These examples are programmatically compiled from various online sources to illustrate current usage of the word 'premium.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.
Dictionary Entries Near premium
Cite this Entry
“Premium.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/premium. Accessed 23 Apr. 2024.
Copy CitationKids Definition
premium
1 of 2 noun
pre·mi·um
ˈprē-mē-əm
1
a
: a reward for an act
b
: a sum over and above a regular or stated price
c
: something given free or at a lower price with the purchase of a product or service
2
: the amount paid for a contract of insurance
3
: a high or extra value
put a premium on accuracy
premium
2 of 2 adjective
: of high quality, value, or price
Etymology
Noun
Latin praemium "booty, profit, reward," from prae- "before" + emere "to take, buy"
Legal Definition
premium
noun
pre·mi·um
ˈprē-mē-əm
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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