A premium is a sum of money that you pay regularly to an insurance company for an insurance policy.
It is too early to say whether insurance premiums will be affected.
2. countable noun [usually singular, oft NOUN noun]
A premium is a sum of money that you have to pay for something in addition to the normal cost.
Even if customers want 'solutions', most are not willing to pay a premium for them.
Callers are charged a premium rate of 48p a minute.
Synonyms: surcharge, extra charge, additional fee or charge More Synonyms of premium
3. adjective [ADJECTIVE noun]
Premium goods are of a higher than usual quality and are often expensive.
At the premium end of the market, business is booming.
...the most popular premium ice cream in this country.
4.
See at a premium
5.
See at a premium
6.
See place a high premium on sth/put a high premium on sth
More Synonyms of premium
premium in British English
(ˈpriːmɪəm)
noun
1.
an amount paid in addition to a standard rate, price, wage, etc; bonus
2.
the amount paid or payable, usually in regular instalments, for an insurance policy
3.
the amount above nominal or par value at which something sells
4.
a.
an offer of something free or at a specially reduced price as an inducement to buy a commodity or service
b.
(as modifier)
a premium offer
5.
a prize given to the winner of a competition; award
6. US
an amount sometimes charged for a loan of money in addition to the interest
7.
great value or regard
to put a premium on someone's services
8.
a fee, now rarely required, for instruction or apprenticeship in a profession or trade
9. at a premium
Word origin
C17: from Latin praemium prize, booty, reward
premium in American English
(ˈprimiəm)
nounWord forms: pluralˈpremiums
1.
a reward or prize, esp. one offered free or at a special low price as an added inducement to buy or do something; bonus
2.
an additional amount paid or charged
; specif.,
a.
an amount paid for a loan in addition to interest
b.
an amount paid, as for stock, above the nominal or par value
c.
additional wages paid as for overtime or dangerous work
3.
a payment
; specif.,
a.
the amount payable or paid, in one sum or periodically, for an insurance policy
b. Rare
a fee paid for instruction in a trade, etc.
c.
a fee paid by a borrower of stock to the lender, as in short selling
4.
very high value
to put a premium on punctuality
5. Economics
the amount by which one form of money exceeds another (of the same nominal value) in exchange value, or buying power
adjective
6.
rated as superior in quality and sold at a higher price
SIMILAR WORDS: ˈbonus, reˈward
Idioms:
at a premium
Word origin
L praemium, reward, recompense < prae-, before + emere, to take: see pre- & redeem
premium in Finance
(primiəm)
Word forms: (regular plural) premiums
noun
(Finance: Investment)
A premium is the higher price that is paid for a bond that is trading above par.
Yield to maturity takes into account the present value of all future cash flows,as well as any premium or discount to par that the investor pays.
If prices are above par, and the bond is priced at greater than 100, this is calledtrading at a premium.
A premium is the higher price that is paid for a bond that is trading above par.
premium in Insurance
(primiəm)
Word forms: (regular plural) premiums
noun
(Insurance: General)
A premium is the cost of insurance, that is usually an amount paid each year.
An annuity was purchased by the payment of annual premiums for a specified period of time.
If the premium we received from you was not enough to buy the kind and amount of coverage you requested,we will provide only the amount of coverage that can be purchased for the paymentwe received.
A premium is the cost of insurance, that is usually an amount paid each year.
calculate a premium, gross premium, gross written premiums, premium income, regular premium, single premium, single premium insurance, waiver of premium
Talking about premiumsInsurance companies charge premiums and customers pay them. When companies calculate their premiums, they decide how much they will cost. Customers usually pay monthly or annual premiums.If a company decides that a customer does not have to pay a premium, they waive that premium.
COBUILD Collocations
premium
additional premium
annual premium
average premium
monthly premium
Examples of 'premium' in a sentence
premium
Boss will focus on upper premium business wear.
The Sun (2016)
Those who join with college or university email addresses are offered free premium membership.
Times, Sunday Times (2017)
The report showed that drinkers were now prepared to pay premium prices for a luxury product.
Times, Sunday Times (2016)
So-called housing hotspots are those that command a property price premium over their neighbours.
Times, Sunday Times (2016)
Our age puts such a premium on control.
Times, Sunday Times (2017)
Those who are found to have good driving habits are rewarded with cheaper insurance premiums.
The Sun (2017)
Edwardian coins have always traded at a higher premium, but have recently become more desirable.
Times, Sunday Times (2016)
For homeowners it is an important selling point, with houses on a village green commanding a premium.
Times, Sunday Times (2016)
The flight will carry 236 passengers with economy, premium economy and business cabins.
The Sun (2016)
He hoped it would be able to cut his annual premium of about 2,900 to something closer to the 780 it cost before the most recent flood.
Times, Sunday Times (2016)
You can charge businesses a premium for specialist information.
Times, Sunday Times (2007)
Some insurers offer lower premiums to drivers who install the devices.
Times, Sunday Times (2015)
You pay a premium for new homes and they can lose value straight away.
The Sun (2013)
Whether the organic premium represents value is a subjective opinion.
Times, Sunday Times (2009)
Young motorists already pay the highest premiums because they have the most accidents.
Times, Sunday Times (2015)
They are such good copies today that dealing with them is a significant cost for premium brands.
Times, Sunday Times (2006)
These individuals can command a premium for their services.
Times, Sunday Times (2007)
International investors ask less of a premium on the money they lend.
Times, Sunday Times (2010)
The study also looked at locations with the highest house price premiums compared with their local area.
Times, Sunday Times (2015)
Insurance premiums for sports clubs targeted for their equipment is now so astronomical that some have closed.
Times, Sunday Times (2011)
It has also highlighted a number that are trading on low discounts or premiums and look expensive.
Times, Sunday Times (2010)
It seems that offering premium products at budget prices has paid off.
Times, Sunday Times (2013)
The elderly are already digging deep into their savings but may need to pay an insurance premium.
Times, Sunday Times (2011)
The best schools charge premium fees.
Times, Sunday Times (2012)
Saying that, a great price against premium brands.
Times, Sunday Times (2013)
But do keep paying our 450 annual premium please!
The Sun (2014)
For an audience, there is an undeniable visual premium on interesting and unusual lighting.
Freeman, Michael Collins Complete Guide to Photography (1993)
Other outgoings that during leaner premium banking fees of and 15 a month.
Times, Sunday Times (2008)
It aims to become the premium international business hub for European airlines.
Times, Sunday Times (2012)
Premium Bonds are great for those who want the chance to win money and keep their capital safe.
Times, Sunday Times (2006)
I cannot see any insurance company returning premiums.
The Sun (2013)
The annual premium can be a little steep, but will be well worth it if your dog is injured.
Standen, Chris Superdog! Action plans that work for a happy and well-behaved pet (1990)
I would imagine he paid a high five-figure sum for the premium spot.
The Sun (2013)
Your policy was changed in 1996, when you reduced the premiums and sum assured.
Times, Sunday Times (2007)
In other languages
premium
British English: premium NOUN
A premium is a sum of money that you pay regularly to an insurance company for an insurance policy.
It is too early to say whether insurance premiums will be affected.
American English: premium
Brazilian Portuguese: prêmio
Chinese: 保险费
European Spanish: prima
French: prime
German: Prämie
Italian: premio
Japanese: 保険料
Korean: 보험료
European Portuguese: prémio
Latin American Spanish: prima
British English: premium ADJECTIVE
Premium goods are of a higher than usual quality and are often expensive.
At the premium end of the market, business is booming.
American English: premium
Brazilian Portuguese: de alta qualidade
Chinese: 高端的
European Spanish: de calidad superior
French: haut de gamme
German: Premium-
Italian: superiore
Japanese: 高級な
Korean: 고급의
European Portuguese: de alta qualidade
Latin American Spanish: de calidad superior
All related terms of 'premium'
gross premium
A gross premium is the total premium of an insurance contract before brokerage or discounts have been deducted .
premium bond
In Britain , premium bonds are numbered tickets that are sold by the government. Each month , a computer selects several numbers , and the people whose tickets have those numbers win money.
premium bonds
(in Britain) bonds issued by the Treasury since 1956 for purchase by the public. No interest is paid but there is a monthly draw for cash prizes of various sums
premium brand
A brand of a product is the version of it that is made by one particular manufacturer .
premium deal
a commercial transaction in which a special incentive or bonus is offered
premium fuel
fuel or gasoline which has a higher octane value and is more expensive than standard fuel
premium price
a higher than standard price for a good which is perceived to be of higher quality than standard
premium-rate
(relating to telephone calls) charged at a higher than standard rate
share premium
the excess of the amount actually subscribed for an issue of corporate capital over its par value
annual premium
A premium is a sum of money that you pay regularly to an insurance company for an insurance policy .
at a premium
If something is at a premium , it is wanted or needed , but is difficult to get or achieve .
average premium
A premium is a sum of money that you pay regularly to an insurance company for an insurance policy .
monthly premium
A premium is a sum of money that you pay regularly to an insurance company for an insurance policy .
premium income
An insurer's premium income is the income that it earns from premiums.
regular premium
A regular premium is money paid to buy insurance coverage in installments at particular time intervals , such as monthly or annually.
single premium
A single premium is a premium that is paid in one lump sum rather than regularly in installments.
additional premium
A premium is a sum of money that you pay regularly to an insurance company for an insurance policy.
insurance premium
the money paid for an insurance policy
waiver of premium
A waiver of premium is a provision that allows the insured not to pay premiums during a period of disability that has lasted for a particular length of time.
calculate a premium
If you calculate a premium , you decide how much a policyholder has to pay for insurance cover.
Premium Savings Bonds
(in Britain) bonds issued by the Treasury since 1956 for purchase by the public. No interest is paid but there is a monthly draw for cash prizes of various sums
single premium insurance
Single premium insurance is insurance where all the premium is paid at once, in one payment .
level premium term insurance
Level premium term insurance is term insurance with premiums that remain the same throughout the life of the contract .
place a high premium on sth/put a high premium on sth
If you place a high premium on a quality or characteristic or put a high premium on it, you regard it as very important .