Definition of Premium

1. Noun. Payment for insurance.

Exact synonyms: Insurance Premium
Generic synonyms: Payment

2. Adjective. Having or reflecting superior quality or value. "Premium gasoline at a premium price"
Similar to: Superior

3. Noun. The amount that something in scarce supply is valued above its nominal value. "They paid a premium for access to water"
Generic synonyms: Economic Value, Value

4. Noun. A fee charged for exchanging currencies.
Exact synonyms: Agio, Agiotage, Exchange Premium
Generic synonyms: Charge

5. Noun. 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"
Generic synonyms: Award, Prize, Bonus, Incentive

6. Noun. Payment or reward (especially from a government) for acts such as catching criminals or killing predatory animals or enlisting in the military.
Exact synonyms: Bounty
Category relationships: Administration, Governance, Governing, Government, Government Activity
Generic synonyms: Reward

Definition of Premium

1. n. 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.

Definition of Premium

1. Adjective. Superior in quality; higher in price or value. ¹

2. Noun. A prize or award. ¹

3. Noun. Something offered at a reduced price as an inducement to buy something else. ¹

4. Noun. A bonus paid in addition to normal payments. ¹

5. Noun. The amount to be paid for an insurance policy. ¹

6. Noun. An unusually high value. ¹

7. Noun. (finance) The amount by which a security's value exceeds its face value. ¹

¹ Source:

Definition of Premium

1. an additional payment [n -S]

Premium Pictures

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Lexicographical Neighbors of Premium

premium (current term)
premium-rate telephone number
premium-rate telephone numbers
premières danseuses

Literary usage of Premium

Below you will find example usage of this term as found in modern and/or classical literature:

1. Blackwood's Edinburgh Magazine (1865)
"First premium for Family Machín*. Vint premium for Manufacturing Machine. ... First premium for Family Machine. Tint premium for Machino Work. ..."

2. Annual Report by Ohio State Board of Agriculture (1909)
"Best display of vegetables, first premium, EM Woodard. ... Best and largest collection of potatoes, first premium, CW Montgomery; second premium, ..."

3. South Eastern Reporter by West Virginia Supreme Court of Appeals, West Publishing Company, South Carolina Supreme Court (1919)
"The policy further provided: 'In the event the insured should, at any premium date or within the days of grace thereafter, after three full years' premiums ..."

4. Supreme Court Reporter by Robert Desty, United States Supreme Court, West Publishing Company (1921)
"mating enumerated deductions from the gross income (including premium receipts) Congress naturally provided how, in making the ..."

5. The Encyclopaedia Britannica: A Dictionary of Arts, Sciences, and General by Thomas Spencer Baynes (1888)
"The annual premium for an assurance is deduced as follows. Since the present value of all the annual payments must be equal to the ..."

6. United States Supreme Court Reports by Lawyers Co-operative Publishing Company, United States Supreme Court (1885)
"First, it is contended that the mere taking of notes in payment of the premium was, in itself, u waiver of the conditional forfeiture; ..."

7. Life Insurance: A Textbook by Solomon Stephen Huebner (1915)
"Life-insurance policies may be purchased by a single premium, an annual premium, ... Of these the annual premium is by far the most important and may ..."

8. Handbook of the Law of Insurance by William Reynolds Vance (1904)
"WHEN THE premium IS A DEBT. 72. In fire and marine insurance the premium ... In life insurance the premium becomes a debt only when, in the case of the ..."

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