noun a sum of money paid to underwriters for insurance, or for undertaking to indemnify for losses of any kind.
2. premium ·noun a sum in advance of, or in addition to, the nominal or par value of anything; as, gold was at a premium; he sold his stock at a premium.
3. premium ·noun something offered or given for the loan of money; bonus;
sometimes synonymous with interest, but generally signifying a sum in addition to the capital.
4. premium ·noun a reward or recompense; a prize to be won by being before another, or others, in a competition; reward or prize to be adjudged; a bounty; as, a premium for good behavior or scholarship, for discoveries, ·etc.