| English Dictionary |
PREMIUM
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Dictionary entry overview: What does premium mean?
• PREMIUM (noun)
The noun PREMIUM has 5 senses:
1. payment for insurance
2. the amount that something in scarce supply is valued above its nominal value
3. a fee charged for exchanging currencies
4. a prize, bonus, or award given as an inducement to purchase products, enter competitions initiated by business interests, etc.
5. payment or reward (especially from a government) for acts such as catching criminals or killing predatory animals or enlisting in the military
Familiarity information: PREMIUM used as a noun is common.
• PREMIUM (adjective)
The adjective PREMIUM has 1 sense:
1. having or reflecting superior quality or value
Familiarity information: PREMIUM used as an adjective is very rare.
Dictionary entry details
Sense 1
Meaning:
Payment for insurance
Classified under:
Nouns denoting possession and transfer of possession
Synonyms:
insurance premium; premium
Hypernyms ("premium" is a kind of...):
payment (a sum of money paid or a claim discharged)
Sense 2
Meaning:
The amount that something in scarce supply is valued above its nominal value
Classified under:
Nouns denoting possession and transfer of possession
Context example:
they paid a premium for access to water
Hypernyms ("premium" is a kind of...):
economic value; value (the amount (of money or goods or services) that is considered to be a fair equivalent for something else)
Sense 3
Meaning:
A fee charged for exchanging currencies
Classified under:
Nouns denoting possession and transfer of possession
Synonyms:
agio; agiotage; exchange premium; premium
Hypernyms ("premium" is a kind of...):
charge (the price charged for some article or service)
Sense 4
Meaning:
A prize, bonus, or award given as an inducement to purchase products, enter competitions initiated by business interests, etc.
Classified under:
Nouns denoting possession and transfer of possession
Context example:
they encouraged customers with a premium for loyal patronage
Hypernyms ("premium" is a kind of...):
award; prize (something given for victory or superiority in a contest or competition or for winning a lottery)
bonus; incentive (an additional payment (or other remuneration) to employees as a means of increasing output)
Sense 5
Meaning:
Payment or reward (especially from a government) for acts such as catching criminals or killing predatory animals or enlisting in the military
Classified under:
Nouns denoting possession and transfer of possession
Synonyms:
bounty; premium
Hypernyms ("premium" is a kind of...):
reward (payment made in return for a service rendered)
Domain category:
administration; governance; governing; government; government activity (the act of governing; exercising authority)
Sense 1
Meaning:
Having or reflecting superior quality or value
Context example:
premium gasoline at a premium price
Similar:
superior (of high or superior quality or performance)
Context examples
“And the premium, sir,” I returned, “is a thousand pounds?”
(David Copperfield, by Charles Dickens)
Limited monthly premiums are required from beneficiaries for non-hospital coverage.
(Medicare, NCI Thesaurus)
That is offering a premium on incapacity: I shall now endeavour to fail.
(Jane Eyre, by Charlotte Brontë)
A mechanism for guarding against financial aspects of risk by making payments in the form of premiums to an insurance company, which pays an agreed-upon sum to the insured in the event of loss.
(Insurance, NCI Thesaurus)
“And the premium, Stamp included, is a thousand pounds,” said Mr. Spenlow.
(David Copperfield, by Charles Dickens)
I had a hope that this brisk treatment might freshen my wits a little; and I think it did them good, for I soon came to the conclusion that the first step I ought to take was, to try if my articles could be cancelled and the premium recovered.
(David Copperfield, by Charles Dickens)
“Indeed, sir,” said I, “her affairs are so changed, that I wished to ask you whether it would be possible—at a sacrifice on our part of some portion of the premium, of course,” I put in this, on the spur of the moment, warned by the blank expression of his face—“to cancel my articles?
(David Copperfield, by Charles Dickens)
| Learn English with... Proverbs |
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