Premiums

1 definition found

From The Collaborative International Dictionary of English v.0.48 [gcide]:

  Premium \Pre"mi*um\, n.; pl. {Premiums}. [L. praemium,
     originally, what one has got before or better than others;
     prae before + emere to take, buy. See {Redeem}.]
     1. 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.
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              To think it not the necessity, but the premium and
              privilege of life, to eat and sleep without any
              regard to glory.                      --Burke.
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              The law that obliges parishes to support the poor
              offers a premium for the encouragement of idleness.
                                                    --Franklin.
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     2. Something offered or given for the loan of money; bonus;
        -- sometimes synonymous with interest, but generally
        signifying a sum in addition to the capital.
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              People were tempted to lend, by great premiums and
              large interest.                       --Swift.
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     3. A sum of money paid to underwriters for insurance, or for
        undertaking to indemnify for losses of any kind.
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     4. 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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