01 n. 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; a…
pl.
Premiums ((#))
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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.“To think it not the necessity, but the premium and privilege of life, to eat and sleep without any regard to glory.” — Burke.“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.“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.