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premium
adjective
of
higher
quality
and
price
than
what
is
usual
or
standard
•
Lisa
ordered
a
cup
of
premium
tea
that
was
imported
from
Japan
.
Lisa
ordered
a
cup
of
premium
tea
that
was
imported
from
Japan
.
•
The
car
comes
with
a
premium
sound
system
that
fills
the
cabin
with
rich
music
.
The
car
comes
with
a
premium
sound
system
that
fills
the
cabin
with
rich
music
.
noun
a
regular
payment
made
to
keep
an
insurance
policy
active
•
Tom
forgot
to
pay
his
car
insurance
premium
,
so
the
policy
was
suspended
.
Tom
forgot
to
pay
his
car
insurance
premium
,
so
the
policy
was
suspended
.
•
Benita
sets
aside
money
each
month
for
her
health-care
premium
.
Benita
sets
aside
money
each
month
for
her
health-care
premium
.
noun
an
extra
amount
of
money
paid
above
the
usual
price
,
often
because
something
is
scarce
or
special
•
During
the
holiday
rush
,
taxis
charge
a
night-time
premium
.
During
the
holiday
rush
,
taxis
charge
a
night-time
premium
.
•
Collectors
will
pay
a
premium
for
first-edition
books
in
perfect
condition
.
Collectors
will
pay
a
premium
for
first-edition
books
in
perfect
condition
.
noun
a
bonus
or
reward
paid
to
encourage
a
particular
action
or
to
reward
good
performance
•
The
company
offered
a
cash
premium
to
employees
who
suggested
cost-saving
ideas
.
The
company
offered
a
cash
premium
to
employees
who
suggested
cost-saving
ideas
.
•
Farmers
receive
a
small
premium
for
delivering
organic
milk
.
Farmers
receive
a
small
premium
for
delivering
organic
milk
.
noun
the
amount
by
which
the
price
of
a
financial
instrument
or
commodity
is
above
its
standard
or
face
value
•
The
bond
was
trading
at
a
five-percent
premium
over
its
face
value
.
The
bond
was
trading
at
a
five-percent
premium
over
its
face
value
.
•
Investors
sometimes
pay
a
hefty
premium
for
shares
of
fast-growing
companies
.
Investors
sometimes
pay
a
hefty
premium
for
shares
of
fast-growing
companies
.
from
Latin
praemium
“
reward
,
prize
,”
later
used
in
finance
and
insurance
to
mean
a
payment
added
to
a
basic
amount
