<p><strong>Noun:</strong></p><ul><li>A prize, bonus, or award given as an inducement, as to purchase products, enter competitions initiated by business interests, etc.</li><li>A bonus, gift, or sum additional to price, wages, interest, or the like.</li><li>The amount paid or to be paid by the policyholder for coverage under the contract, usually in periodic installments.</li><li>The excess value of one form of money over another of the same nominal value.</li><li>A sum above the nominal or par value of a thing.</li><li>The amount paid to the lender of stock by the borrower, typically a short seller.</li><li>The amount the buyer of a call or put option pays to the seller, quoted in dollars per share of stock.</li><li>A fee paid for instruction in a trade or profession.</li><li>A sum additional to the interest paid for the loan of money.</li></ul><p><strong>Adjective:</strong></p><ul><li>Of exceptional quality or greater value than others of its kind; superior: a wine made of premium grapes.</li><li>Of higher price or cost.</li><li>Of or relating to premiums: to work in premium sales.</li></ul>