pre·mi·um
ˈprē-mē-əm 
1
a
: a reward or recompense for a particular act
b
: a sum over and above a regular price paid chiefly as an inducement or incentive
c
: a sum in advance of or in addition to the nominal value of something
bonds callable at a premium of six percent
d
: something given free or at a reduced price with the purchase of a product or service
2
: the consideration paid for a contract of insurance
3
: a high value or a value in excess of that normally or usually expected
put a premium on accuracy
: of exceptional quality or amount
also
: higher-priced
Synonyms
Examples of premium in a Sentence
Noun
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.
Adjective
lavish feasts at which premium wines flowed freely
Recent Examples on the Web
Quartz Bot, Quartz, 14 Nov. 2024
The standard plan with ads costs $6.99/month, less than half the cost of the regular standard plan ($15.49/month), and much cheaper than the top-tier premium plan ($22.99/month).
—Emily Dreibelbis Forlini, PCMAG, 12 Nov. 2024
Juhi Wadia, PCMAG, 16 Nov. 2024
The luxury stay has 24-hour room and concierge service included in the price, as well as premium spirits and à la carte restaurants.
—Tess Foley-Cox, theweek, 12 Nov. 2024
See all Example Sentences for premium 
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Noun
This increase is driven by the addition of reinsurance premium revenue and growth in revenue from STS.
—Quartz Bot, Quartz, 14 Nov. 2024
The standard plan with ads costs $6.99/month, less than half the cost of the regular standard plan ($15.49/month), and much cheaper than the top-tier premium plan ($22.99/month).
—Emily Dreibelbis Forlini, PCMAG, 12 Nov. 2024
Adjective
The Beats Studio Pro headphones deliver premium sound quality, excellent noise cancellation, and a sleek, durable design.
—Juhi Wadia, PCMAG, 16 Nov. 2024
The luxury stay has 24-hour room and concierge service included in the price, as well as premium spirits and à la carte restaurants.
—Tess Foley-Cox, theweek, 12 Nov. 2024
See all Example Sentences for premium
Dictionary Entries Near premium
Cite this Entry
“Premium.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/premium. Accessed 23 Nov. 2024.
Copy CitationKids Definition
premium
1 of 2 noun
pre·mi·um
ˈprē-mē-əm
1
a
: a reward for an act
b
: a sum over and above a regular or stated price
c
: something given free or at a lower price with the purchase of a product or service
2
: the amount paid for a contract of insurance
3
: a high or extra value
put a premium on accuracy
premium
2 of 2 adjective
: of high quality, value, or price
Etymology
Noun
Latin praemium "booty, profit, reward," from prae- "before" + emere "to take, buy"
Legal Definition
premium
noun
pre·mi·um
ˈprē-mē-əm
1
: the difference between the face value or par value of a security and its market price when the latter is greater compare discount
2
: the price paid for an insurance contract equal to the cost per unit times the number of units
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