| Premium (premium) |
|---|
| n. | (?) |
|---|
| Pre"mi*um |
| ; pl.
Premiums (#). [L. praemium, originally, what
one has got before or better than others; prae before +
emere to take, buy. See Redeem.] |
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.
Something offered or given for the loan of
money; bonus; -- sometimes synonymous with interest, but
generally signifying a sum in addition to the capital.
A sum of money paid to underwriters for
insurance, or for undertaking to indemnify for losses of any
kind.
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.
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In celebration of Noah Webster's Birthday (October 16, 2009), we have prepared an updated website. 