Premium - definition, pronunciation, transcription

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Amer.  |ˈpriːmɪəm|  American pronunciation of the word premium
Brit.  |ˈpriːmɪəm|  British pronunciation of the word premium

noun

- payment for insurance
- 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 (syn: agio, agiotage)
- 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
- payment or reward (especially from a government) for acts such as catching criminals or killing predatory animals or enlisting in the military (syn: bounty)

adjective

- having or reflecting superior quality or value
premium gasoline at a premium price

Extra examples

Health insurance premiums went up again this year.

The monthly premium for your health insurance is deducted from your paycheck.

Many customers are willing to pay a premium for organic vegetables.

...lavish feasts at which premium wines flowed freely...

Because of their locations these houses attract a premium.

Consumers are prepared to pay a premium for organically grown vegetables.

Top quality cigars are being sold at a premium.

Mortgage insurance premium payments are made once per year.

Premium products generally fetch a premium price.

When you purchase an option, you pay a premium.

The modified cars are available at a 5% premium.

Platinum usually trades at a premium to gold.

Employers today put a premium on reasoning skills and willingness to learn.

He put a premium on peace and stability.

...a line of indistinctive sportswear that does not justify its premium price point...

Word forms

noun
singular: premium
plural: premiums
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