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Noun: premium  pree-mee-um
  1. Payment for insurance
    - insurance premium
     
  2. The amount that something in scarce supply is valued above its nominal value
    "they paid a premium for access to water"
     
  3. A fee charged for exchanging currencies
    - agio, agiotage [UK], exchange premium
     
  4. 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"
     
  5. (government) payment or reward (especially from a government) for acts such as catching criminals or killing predatory animals or enlisting in the military
    - bounty
Adjective: premium  pree-mee-um
  1. 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

Encyclopedia: Premium