Definify.com

Webster 1913 Edition


Premium

Pre′mi-um

,
Noun.
;
pl.
Premiums
(#)
.
[L.
praemium
, originally, what one has got before or better than others;
prae
before +
emere
to take, buy. See
Redeem
.]
1.
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.
To think it not the necessity, but the
premium
and privilege of life, to eat and sleep without any regard to glory.
Burke.
The law that obliges parishes to support the poor offers a
premium
for the encouragement of idleness.
Franklin.
2.
Something offered or given for the loan of money; bonus; – sometimes synonymous with interest, but generally signifying a sum in addition to the capital.
People were tempted to lend, by great
premiums
and large interest.
Swift.
3.
A sum of money paid to underwriters for insurance, or for undertaking to indemnify for losses of any kind.
4.
A sum in advance of, or in addition to, the nominal or par value of anything;
as, gold was at a
premium
; he sold his stock at a
premium
.

Webster 1828 Edition


Premium

PRE'MIUM

,
Noun.
[L.] Properly, a reward or recompense; a prize to be won by competition; the reward or prize to be adjudged to the best performance or production.
1.
The recompense or prize offered for a specific discovery or for success in an enterprise; as for the discovery of the longitude, or of a northwest passage to the Pacific Ocean.
2.
A bounty; something offered or given for the loan of money, usually a sum beyond the interest.
3.
The recompense to underwriters for insurance, or for undertaking to indemnify for losses of any kind.
4.
It is sometimes synonymous with interest, but generally in obtaining loans, it is a sum per cent. distinct from the interest.
The bank lends money to government at a premium of 2 per cent.
5.
A bounty.
The law that obliges parishes to support the poor, offers a premium for the encouragement of idleness.

Definition 2023


premium

premium

See also: prémium

English

Alternative forms

Adjective

premium (not comparable)

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

Translations

Noun

premium (plural premiums or premia)

  1. A prize or award.
  2. Something offered at a reduced price as an inducement to buy something else.
  3. A bonus paid in addition to normal payments.
  4. The amount to be paid for an insurance policy.
  5. An unusually high value.
  6. (finance) The amount by which a security's value exceeds its face value.
Translations

Usage notes

  • Premia is much less common than premiums, accounting for less than 1% of total usage in US (COCA) and in UK (BNC).

Antonyms

Derived terms


French

Noun

premium m (plural premiums)

  1. premium

Spanish

Adjective

premium (invariable)

  1. premium