premium: Meaning and Definition of
Pronunciation: (prē'mē-um), [key]
- a prize, bonus, or award given as an inducement, as to purchase products, enter competitions initiated by business interests, etc.
- a bonus, gift, or sum additional to price, wages, interest, or the like.
- the amount paid or to be paid by the policyholder for coverage under the contract, usually in periodic installments.
- the excess value of one form of money over another of the same nominal value.
- a sum above the nominal or par value of a thing.
- the amount paid to the lender of stock by the borrower, typically a short seller.
- the amount the buyer of a call or put option pays to the seller, quoted in dollars per share of stock.
- a fee paid for instruction in a trade or profession.
- a sum additional to the interest paid for the loan of money.
- Housing in that area is at a premium.
- at an unusually high price.
- in short supply; in demand:Housing in that area is at a premium.
- of exceptional quality or greater value than others of its kind; superior: a wine made of premium grapes.
- of higher price or cost.
- of or pertaining to premiums: to work in premium sales.
- premium (Thesaurus)