Premium - Definition

adj 1: having or reflecting superior quality or value; "premium
gasoline at a premium price"
n 1: payment for insurance [syn: premium, insurance premium]
2: the amount that something in scarce supply is valued above
its nominal value; "they paid a premium for access to water"
3: a fee charged for exchanging currencies [syn: agio,
agiotage, premium, exchange premium]
4: 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"
5: payment or reward (especially from a government) for acts
such as catching criminals or killing predatory animals or
enlisting in the military [syn: bounty, premium]