premium

Pronunciation

• (US) IPA ^(key): /ˈprimiəm/

• Audio (US)

  (file)

Noun

Singular premium

Plural premiums

1. A premium is an amount of money paid for insurance.

   He had to pay a higher premium after his house burnt down.

2. Premium is something that high quality and in short supply.

   We had to pay a premium price for a glass of water in the desert.

3. A premium is a bonus or reward.

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