Meaning & Definition of word "Premium"
Premium
/ˈpriːmiəm/
noun:
- 1. An amount to be paid for a loan or insurance, typically on a regular basis.
- Example: She pays a monthly premium for her health insurance coverage.
- 2. A sum added to an ordinary price; an extra charge.
- Example: He had to pay a premium price for the concert tickets due to high demand.
- 3. A reward or incentive, especially in a competitive or promotional context.
- Example: The company offered a premium for employees who exceeded their sales targets.
adjective:
- 1. Of superior quality or value.
- Example: They stayed at a premium hotel known for its luxury accommodations.
- 2. Higher in price than what is normal or standard.
- Example: She opted for the premium version of the software for its added features.
Etymology
●From Latin 'praemium', meaning 'reward, prize'.
Common Phrases and Expressions
premium brand:
A brand known for its high quality and price.
premium membership:
A type of subscription that offers additional benefits.
premium wine:
Wine that is of noticeably higher quality.
premium service:
Service that provides added value beyond the standard.
Related Words
surplus:
An amount that is more than what is needed.
excess:
More than the usual amount.
Slang Meanings of premium
Meaning: Top-notch quality or status.
● Example Sentence: That concert was premium; the band played all their best hits.
Meaning: Something that is expensive but worth it.
● Example Sentence: These sneakers are premium, but they are super comfortable.