First Known Use: 1601
Dictionary
1premium
noun pre·mi·um \ˈprē-mē-əm\
: the price of insurance : the amount paid for insurance
: a price that is higher than the regular price
: a high or extra value
Full 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>
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Origin of PREMIUM
Latin praemium booty, profit, reward, from prae- + emere to take, buy — more at redeem
Related to PREMIUM
- Synonyms
- accolade, blue ribbon, decoration, distinction, honor, kudo, plume, award, prize
Other Business Terms
2premium
adjective
: high or higher than normal
: of high or higher than normal quality
Full Definition of PREMIUM
: of exceptional quality or amount; also : higher-priced
See premium defined for English-language learners
First Known Use of PREMIUM
1844
Related to PREMIUM
- Synonyms
- big-ticket, dear, expensive, extravagant, high, high-end, high-ticket, precious, costly, priceless, pricey (also pricy), spendy [chiefly Northwest], ultraexpensive, valuable
- Antonyms
- cheap, inexpensive
PREMIUM Defined for Kids
premium
noun pre·mi·um \ˈprē-mē-əm\
Definition of PREMIUM for Kids
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.>
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