premium

Meanings

1. 1
   adj

   having or reflecting superior quality or value

   premium gasoline at a premium price

2. 2
   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

3. 3
   noun

   the amount that something in scarce supply is valued above its nominal value

   they paid a premium for access to water

4. 4
   noun

   A bonus paid in addition to normal payments.

   At first I wrote it off to the simpler protocols of grandparenthood, with its premium on uncomplicated gestures of generosity and love.

5. 5
   noun

   The amount to be paid for an insurance policy.

   (Of course, if an insured dies during the grace period, the unpaid annual premium or instalment thereof is past due and therefore is deducted from the death benefit.)

6. 6
   noun

   payment or reward (especially from a government) for acts such as catching criminals or killing predatory animals or enlisting in the military

7. 7
   noun

   payment for insurance

8. 8
   noun

   a fee charged for exchanging currencies

Etymology

From Latin praemium (“prize”).