Webpremium: [noun] a reward or recompense for a particular act. a sum over and above a regular price paid chiefly as an inducement or incentive. a sum in advance of or in addition to the nominal value of something. something given free or at a reduced price with the purchase of a product or service.

Web1. premium - having or reflecting superior quality or value; "premium gasoline at a premium price". superior - of high or superior quality or performance; "superior wisdom derived from experience"; "superior math students". award, guerdon, honorarium, plum, prize, reward. Idiom: token of appreciation.

WebPremium is an amount paid periodically to the insurer by the insured for covering his risk. Description: In an insurance contract, the risk is transferred from the insured to the insurer. For taking this risk, the insurer charges an amount called the premium. The premium is a function of a number of variables like age, type of employment, ...

Web24/08/2021 · Premium: Definition, Meanings in Finance, and Types Understanding a Premium. Broadly speaking, a premium is a price paid for above and beyond some basic or intrinsic value. Types of Premium. A price that exists above some sort of fundamental value is referred to as a premium, and such assets... ...

WebSynonyms for PREMIUM: prize, award, accolade, honor, blue ribbon, decoration, trophy, medal; Antonyms of PREMIUM: inexpensive, cheap, reasonable, moderate, worthless ...

WebBritish Dictionary definitions for premium an offer of something free or at a specially reduced price as an inducement to buy a commodity or service (as modifier) a premium offer

Webpremium definition: 1. an amount that is more than usual: 2. an amount of money paid to get insurance: 3. the highest…. Learn more.

Web03/03/2022 · Insurance Premium: An insurance premium is the amount of money that an individual or business must pay for an insurance policy. The insurance premium is income for the insurance company, once it ...

WebStrangely, the truth is that the situation with defining an insurance premium is binary i.e. you can either define the basic or you can go all in, there is no middle ground. Now, let us start with defining the basic and then we will head into the complexities. In its simplest form, the Insurance premium is the cost of your insurance policy. it is the amount that you pay to …

WebInsurance Premium Definition - Insurance premium is an amount that an individual pays to the insurance provider for insurance cover. Check its meaning & how to calculate insurance premium online at Max Life Insurance.