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English Dictionary

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 premium premium /ˈpriːmiːəm/

adjective

  1. () Having or reflecting superior quality or value  ( premium )
    having or reflecting superior quality or value
     Premium gasoline at a premium price
    premium gasoline at a premium price

noun

  1. () Payment for insurance  ( insurance premium , premium )
    payment for insurance
  2. (government) payment or reward (especially from a government) for acts such as catching criminals or killing predatory animals or enlisting in the military  ( bounty , premium )
    (government) payment or reward (especially from a government) for acts such as catching criminals or killing predatory animals or enlisting in the military
  3. A prize, bonus, or award given as an inducement to purchase products, enter competitions initiated by business interests, etc.  ( premium )
    a prize, bonus, or award given as an inducement to purchase products, enter competitions initiated by business interests, etc.
     They encouraged customers with a premium for loyal patronage
    they encouraged customers with a premium for loyal patronage
  4. A fee charged for exchanging currencies  ( agio , agiotage [UK] , exchange premium , premium )
    a fee charged for exchanging currencies
  5. The amount that something in scarce supply is valued above its nominal value  ( premium )
    the amount that something in scarce supply is valued above its nominal value
     They paid a premium for access to water
    they paid a premium for access to water