Premium
nounA regular sum paid for an insurance policy, or an extra amount paid above the normal price.
How to spell premium
7 letters · 3 syllables
How to pronounce premium
Say the part in capitals loudest.
What does premium mean?
- nounA regular sum paid for an insurance policy, or an extra amount paid above the normal price.
- adjectiveOf superior quality and sold at a higher price than ordinary versions.
Premium in a sentence
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noun
The monthly premium on the car insurance rose again this year.
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adjective
The cafe charges more for its premium blend of coffee.
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noun
Buyers paid a steep premium for flats near the new station.
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adjective
They market the laptop as a premium product for professionals.
Where does premium come from?
Language of origin: Latin
This word comes straight from the Latin praemium, which meant a reward, prize, or profit set aside for someone. That noun was built from prae-, meaning 'before' or 'ahead', combined with emere, the verb 'to buy' or 'to take', so the literal idea was something taken or claimed in advance, a bonus earned over and above the ordinary. English adopted it in the early 1600s, at first meaning a reward or a bounty, and the financial senses followed quickly: the regular sum paid to keep an insurance policy in force, and any extra amount paid above the standard price. From there the adjective sense grew, describing goods so good they command that higher price. The same emere root, 'to buy', also hides inside 'exempt' and 'redeem', and the kept Latin -ium ending is why the word finishes in -ium rather than the more English-looking -eum.
How the word is built
- prae- (before)
- -em- (from emere: to buy, take)
- -ium (noun suffix)
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