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Definition of premium
Thanks for using this online dictionary, we have been helping millions of people improve their use of the english language with its free online services. English definition of premium is as below...
Premium
(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;
as, a
premium
for good
behavior
or
scholarship,
for
discoveries,
etc..
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Interest
::
Interest
(n.)
Premium
paid for the use of
money,
--
usually
reckoned
as a
percentage;
as,
interest
at five per cent per annum on ten
thousand
dollars..
Insurer
::
Insurer
(n.) One who, or that
which,
insures;
the
person
or
company
that
contracts
to
indemnify
losses
for a
premium;
an
underwriter..
Del Credere
::
Del
credere
() An
agreement
by which an agent or
factor,
in
consideration
of an
additional
premium
or
commission
(called
a del
credere
commission),
engages,
when he sells goods on
credit,
to
insure,
warrant,
or
guarantee
to his
principal
the
solvency
of the
purchaser,
the
engagement
of the
factor
being to pay the debt
himself
if it is not
punctually
discharged
by the buyer when it
becomes
due..
Backwardation
::
Backwardation
(n.) The
seller's
postponement
of
delivery
of stock or
shares,
with the
consent
of the
buyer,
upon
payment
of a
premium
to the
latter;
-- also, the
premium
so paid. See
Contango..
Agio
::
Agio (n.) The
premium
or
percentage
on a
better
sort of money when it is given in
exchange
for an
inferior
sort. The
premium
or
discount
on
foreign
bills of
exchange
is
sometimes
called
agio.
Foregift
::
Foregift
(n.) A
premium
paid by /
lessee
when
taking
his
lease.
Bonus
::
Bonus (n.) A
premium
given for a loan, or for a
charter
or other
privilege
granted
to a
company;
as the bank paid a bonus for its
charter..
Underwrite
::
Underwrite
(v. t.) To
subscribe
one's name to for
insurance,
especially
for
marine
insurance;
to write one's name
under,
or set one's name to, as a
policy
of
insurance,
for the
purpose
of
becoming
answerable
for loss or
damage,
on
consideration
of
receiving
a
certain
premium
per cent; as,
individuals,
as well as
companies,
may
underwrite
policies
of
insurance..
Use
::
Use (v. t.) The
premium
paid for the
possession
and
employment
of
borrowed
money;
interest;
usury.
Insure
::
Insure
(v. t.)
Specifically,
to
secure
against
a loss by a
contingent
event,
on
certain
stipulated
conditions,
or at a given rate or
premium;
to give or to take an
insurance
on or for; as, a
merchant
insures
his ship or its
cargo,
or both,
against
the
dangers
of the sea; goods and
buildings
are
insured
against
fire or
water;
persons
are
insured
against
sickness,
accident,
or
death;
and
sometimes
hazardous
debts are
insured..
Premium
::
Premium
(n.)
Something
offered
or given for the loan of
money;
bonus;
--
sometimes
synonymous
with
interest,
but
generally
signifying
a sum in
addition
to the
capital..
Bounty
::
Bounty
(n.) A
premium
offered
or given to
induce
men to
enlist
into the
public
service;
or to
encourage
any
branch
of
industry,
as
husbandry
or
manufactures..
Insurance
::
Insurance
(n.) The act of
insuring,
or
assuring,
against
loss or
damage
by a
contingent
event;
a
contract
whereby,
for a
stipulated
consideration,
called
premium,
one party
undertakes
to
indemnify
or
guarantee
another
against
loss by
certain
specified
risks.
Cf.
Assurance,
n., 6..
Bottomry
::
Bottomry
(n.) A
contract
in the
nature
of a
mortgage,
by which the owner of a ship, or the
master
as his
agent,
hypothecates
and binds the ship (and
sometimes
the
accruing
freight)
as
security
for the
repayment
of money
advanced
or lent for the use of the ship, if she
terminates
her
voyage
successfully.
If the ship is lost by
perils
of the sea, the
lender
loses the
money;
but if the ship
arrives
safe, he is to
receive
the money lent, with the
interest
or
premium
stipulated,
although
it may, and
Insurance
::
Insurance
(n.) The
premium
paid for
insuring
property
or life.
Usury
::
Usury (v. t.) A
premium
or
increase
paid, or
stipulated
to be paid, for a loan, as of
money;
interest..
Premium
::
Premium
(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;
as, a
premium
for good
behavior
or
scholarship,
for
discoveries,
etc..
Premium
::
Premium
(n.) A sum of money paid to
underwriters
for
insurance,
or for
undertaking
to
indemnify
for
losses
of any
kind..
Contango
::
Contango
(n.) The
postponement
of
payment
by the buyer of stock on the
payment
of a
premium
to the
seller.
See
Backwardation.
Premium
::
Premium
(n.) 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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