Premium : adj : having or reflecting superior quality or value; "premium
gasoline at a premium price"
(noun)
1: payment for insurance [syn: insurance premium]
2: a fee charged for exchanging currencies [syn: agio, agiotage,
exchange premium]
3: payment or reward (especially from a government) for acts
such as catching criminals or killing predatory animals or
enlisting in the military [syn: bounty]
Based on WordNet 2.0
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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.
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.
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.
3. A sum of money paid to underwriters for insurance, or for
undertaking to indemnify for losses of any kind.
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.
Based on Webster's Revised Unabridged Dictionary
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PREMIUM, contracts. The consideration paid by the insured to the insurer for
making an insurance. It is so called because it is paid primo, or before the
contract shall take effect. Poth. h.t. n. 81; Marah. Inst. 234.
2. In practice, however, thePremium : is not always paid when the policy
is underwritten; for insurances are frequently effected by brokers, and open
accounts are kept between them and the underwriters, in which they make
themselves debtors for all premiums;, and sometimes notes or bills are given
for the amount of the premium.
3. The French writers, when they speak of the consideration given for
maritime loans, employ a variety of words in order to distinguish it
according to the nature of the case. Thus, they call it interest when it is
stipulated to be paid by the month or at other stated periods. It is a
premium, when a gross sum is to be paid at the end of a voyage, and here the
risk is the principal object which they have in view. When the sum is a
percentage on the money lent, they denominate it exchange, considering it in
the light of money lent in one place to be returned in another, with a
difference in amount between the sum borrowed and that which is paid,
arising from the difference of time and place. When they intend to combine
these various shades into one general denomination, they make use of the
term maritime profit, to convey their meaning. Hall on Mar. Loans, 56, n.
Vide Park, Ills. h.t. Poth. h.t.; 3 Kent, Com. 285; 15 East, R. 309, Day's
note, and the cases there cited.
Based on Bouvier's Law Dictionary, Revised 6th Ed (1856) [Bouvier_Law_Dictionary]:
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Premium, KY
Zip code(s): 41845
Based on Bouvier's Law Dictionary, Revised 6th Ed (1856) [Bouvier_Law_Dictionary]:
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