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premium

[pree-mee-uh m] /ˈpri mi əm/
noun
1.
a prize, bonus, or award given as an inducement, as to purchase products, enter competitions initiated by business interests, etc.
2.
a bonus, gift, or sum additional to price, wages, interest, or the like.
3.
Insurance. the amount paid or to be paid by the policyholder for coverage under the contract, usually in periodic installments.
4.
Economics. the excess value of one form of money over another of the same nominal value.
5.
a sum above the nominal or par value of a thing.
6.
the amount paid to the lender of stock by the borrower, typically a short seller.
7.
the amount the buyer of a call or put option pays to the seller, quoted in dollars per share of stock.
8.
a fee paid for instruction in a trade or profession.
9.
a sum additional to the interest paid for the loan of money.
adjective
10.
of exceptional quality or greater value than others of its kind; superior:
a wine made of premium grapes.
11.
of higher price or cost.
12.
of or relating to premiums:
to work in premium sales.
Idioms
13.
at a premium,
  1. at an unusually high price.
  2. in short supply; in demand:
    Housing in that area is at a premium.
Origin
1595-1605
1595-1605; < Latin praemium profit, reward
Related forms
nonpremium, noun
superpremium, adjective, noun
Synonyms
2. reward. See bonus.
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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Examples from the web for premiums
  • They manage it at every level-collecting premiums, writing claim checks, and guarding against fraud.
  • Bounties are sometimes called premiums, as drawbacks are sometimes called bounties.
  • The premiums ranged from five to twenty-five cents a week.
  • Special advertising production premiums do not earn any discounts or agency commissions.
  • Furthermore, insurers could deny people health coverage or raise the premiums they have to pay.
  • Its been fuel efficient, and its insurance premiums are about a third of what they were when it was new.
  • Insurance companies already openly discriminate by either jacking up insurance premiums or refusing to cover people.
  • Annual insurance payouts and premiums will rise significantly, and more properties will find it harder to get.
  • If they can't invest in profitable companies, health insurance premiums would rise.
  • As a part-time employee, he would also get half of his health-insurance premiums paid by the college.
British Dictionary definitions for premiums

premium

/ˈpriːmɪəm/
noun
1.
an amount paid in addition to a standard rate, price, wage, etc; bonus
2.
the amount paid or payable, usually in regular instalments, for an insurance policy
3.
the amount above nominal or par value at which something sells
4.
  1. an offer of something free or at a specially reduced price as an inducement to buy a commodity or service
  2. (as modifier): a premium offer
5.
a prize given to the winner of a competition; award
6.
(US) an amount sometimes charged for a loan of money in addition to the interest
7.
great value or regard: to put a premium on someone's services
8.
a fee, now rarely required, for instruction or apprenticeship in a profession or trade
9.
at a premium
  1. in great demand or of high value, usually because of scarcity
  2. above par
Word Origin
C17: from Latin praemium prize, booty, reward
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition
© William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
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Word Origin and History for premiums

premium

n.

c.1600, "reward given for a specific act," from Latin praemium "reward, profit derived from booty," from prae- "before" (see pre-) + emere "to buy," originally "to take" (see exempt (adj.)). Insurance sense is 1660s, from Italian premio. Adjectival sense of "superior in quality" is first attested 1925, originally in reference to butter.

Online Etymology Dictionary, © 2010 Douglas Harper
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Idioms and Phrases with premiums
The American Heritage® Idioms Dictionary
Copyright © 2002, 2001, 1995 by Houghton Mifflin Company. Published by Houghton Mifflin Company.
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14
18
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