Premium

English Meaning

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.

1. A prize or award.
2. Something offered free or at a reduced price as an inducement to buy something else.
3. A sum of money or bonus paid in addition to a regular price, salary, or other amount.
4. The amount paid, often in addition to the interest, to obtain a loan.
5. The amount paid or payable, often in installments, for an insurance policy.
6. The amount at which something is valued above its par or nominal value, as money or securities.
7. The amount at which a securities option is bought or sold.
8. Payment for training in a trade or profession.
9. An unusual or high value: Employers put a premium on honesty and hard work.
10. Of superior quality or value: premium gasoline.
11. at a premium More valuable than usual, as from scarcity: Fresh water was at a premium after the reservoir was contaminated.