Premium Pre"mi*um, n.; pl. {Premiums}. [L. praemium, originally, what one has got before or better than others; prae before + emere to take, buy. See {Redeem}.] 1. 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. [1913 Webster]

To think it not the necessity, but the premium and privilege of life, to eat and sleep without any regard to glory. --Burke. [1913 Webster]

The law that obliges parishes to support the poor offers a premium for the encouragement of idleness. --Franklin. [1913 Webster]

2. Something offered or given for the loan of money; bonus; -- sometimes synonymous with interest, but generally signifying a sum in addition to the capital. [1913 Webster]

People were tempted to lend, by great premiums and large interest. --Swift. [1913 Webster]

3. A sum of money paid to underwriters for insurance, or for undertaking to indemnify for losses of any kind. [1913 Webster]

4. 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. [1913 Webster]

The Collaborative International Dictionary of English. 2000.

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