premium
/'pri:mjəm/
Học thuậtThân thiện
Definition
Noun:
- A sum of money paid regularly to an insurance company for coverage: This is the regular payment made to maintain an insurance policy.
- An extra payment or charge added to the basic rate or price: This refers to an additional cost, often for something superior, scarce, or in high demand.
- A prize, bonus, or reward offered as an incentive: This is something given to encourage a particular action, such as buying a product or signing a contract.
- High value or esteem: A state of being highly valued or in great demand.
Adjective:
- Of superior quality or value: Describing something that is of a higher grade or standard than usual.
Examples of Usage
Noun:
- He pays a monthly premium for his health insurance.
- Due to the drought, water is at a premium in the region.
- The cereal box offered a free toy as a premium to attract buyers.
- Honesty is at a premium in this organization.
Adjective:
- They sell premium coffee beans from single-origin farms.
- The car comes with a premium sound system as standard.
Advanced Usage
"at a premium": Being scarce and therefore highly valued; also, at a price above the nominal or usual value.
- Office space in the city center is at a premium.
- The bonds are selling at a premium.
"to put a premium on something": To regard something as particularly valuable or important; to encourage or incentivize a particular quality or action.
- This company puts a premium on innovation and creativity.
- The new tax policy puts a premium on energy efficiency.
Variants and Related Words
- Premium-grade (adj): Of the highest quality available.
- Premium-grade fuel is recommended for this engine.
Synonyms
- Noun: Bonus, reward, incentive, surcharge, fee, value.
- Adjective: High-grade, superior, top-tier, deluxe, choice.
Related Phrases
Risk premium: The extra return expected by an investor for taking on additional risk.
- The volatile stock carries a high risk premium.
Premium bond: A government bond that offers no interest but enters the holder into periodic prize draws.
- She invests in premium bonds for the chance to win a cash prize.
Related Idioms
- Pay a premium: To pay an extra high price for something.
- Collectors are willing to pay a premium for a first-edition copy.
Adjective
- having or reflecting superior quality or value
- premium gasoline at a premium price
Noun
- payment or reward (especially from a government) for acts such as catching criminals or killing predatory animals or enlisting in the military
- 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
- a fee charged for exchanging currencies
- the amount that something in scarce supply is valued above its nominal value
- they paid a premium for access to water
- payment for insurance