Definition of premium
- n. - 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.
- n. - Something offered or given for the loan of money; bonus;
-- sometimes synonymous with interest, but generally signifying a sum
in addition to the capital.
- n. - A sum of money paid to underwriters for insurance, or for
undertaking to indemnify for losses of any kind.
- n. - 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.