premium
Noun · AdjectiveWordNet 3.0
Noun (5)
- payment for insuranceSynonyms: insurance premium
- the amount that something in scarce supply is valued above its nominal value“they paid a premium for access to water”
- a fee charged for exchanging currenciesSynonyms: agioagiotageexchange premium
- a prize, bonus, or award given as an inducement to purchase products, enter competitions initiated by business interests, etc.“they encouraged customers with a premium for loyal patronage”
- payment or reward (especially from a government) for acts such as catching criminals or killing predatory animals or enlisting in the militarySynonyms: bounty
Adjective (1)
- having or reflecting superior quality or value“premium gasoline at a premium price”
Webster's Dictionary (GCIDE)
Premium \Pre"mi*um\, n.; pl. Premiums. [L. praemium, originally, what one has got before or better than others; prae before + emere to take, buy. See Redeem.]
1.A reward or recompense; a prize to be won by being before another, or others, in a competition; reward or prize to be adjudged; a bounty; as, a premium for good behavior or scholarship, for discoveries, etc. [1913 Webster]
To think it not the necessity, but the premium and privilege of life, to eat and sleep without any regard to glory.— Burke.[1913 Webster]
The law that obliges parishes to support the poor offers a premium for the encouragement of idleness.— Franklin.[1913 Webster]
2.Something offered or given for the loan of money; bonus; -- sometimes synonymous with interest, but generally signifying a sum in addition to the capital. [1913 Webster]
People were tempted to lend, by great premiums and large interest.— Swift.[1913 Webster]
3.A sum of money paid to underwriters for insurance, or for undertaking to indemnify for losses of any kind. [1913 Webster]
4.A sum in advance of, or in addition to, the nominal or par value of anything; as, gold was at a premium; he sold his stock at a premium. [1913 Webster]