Noun: premium pree-mee-um
Adjective: premium pree-mee-um
- Payment for insurance
- 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 currencies
- agio, agiotage [UK], exchange 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"
- (government) payment or reward (especially from a government) for acts such as catching criminals or killing predatory animals or enlisting in the military
- Having or reflecting superior quality or value
"premium petrol at a premium price"
Derived forms: premiums
See also: superior
Type of: award, bonus, charge, economic value, incentive, payment, prize, reward, value