- 1an amount of money that you pay once or regularly for an insurance policy a monthly premium of £6.25 Synonymspaymentpremium contribution subscription repayment deposit instalmentThese are all words for an amount of money that you pay or are expected to pay, or for the act of paying.payment an amount of money that you pay or are expected to pay; the act of paying:ten monthly payments of $50 payment in advancepremium an amount of money that you pay once or regularly for an insurance policy; an extra payment added to the basic rate; a higher amount of money than usual:an insurance premium a premium for express deliverycontribution a sum of money that you pay regularly to your employer or the government in order to pay for benefits such as health insurance, a pension, etc:You can increase your monthly contributions to the pension plan.subscription an amount of money you pay in advance to receive regular copies of a newspaper or magazine or to receive a service:a subscription to ‘Newsweek’repayment (British English) an amount of money that you pay regularly to a bank, etc. until you have returned all the money that you owe; the act of paying this money:the repayments on the loandeposit an amount of money that you pay as the first part of a larger payment:We’ve put down a 5% deposit on the house.instalment one of a number of payments that you make regularly over a period of time until you have paid for something:We paid for the car by/in instalments.Patterns (a/an) annual/monthly/regular payment/premium/contributions/subscription/repayment/deposit/instalment payment/repayment in full to pay a(n) premium/contribution/subscription/deposit/instalment to make a payment/repayment/deposit to meet/keep up (with) (the) payment(s)/the premiums/(the) repayment(s)/the instalments Wordfinderactuary, annuity, cover, excess, insurance, no-claims bonus, policy, premium, risk, underwrite
- 2an extra payment added to the basic rate You have to pay a high premium for express delivery. A premium of 10% is paid out after 20 years. He was willing to pay a premium for a house near the sea. Word Origin early 17th cent. (in the sense ‘reward, prize’): from Latin praemium
- 1if something is at a premium, there is little of it available and it is difficult to get Space is at a premium in a one-bedroomed apartment.
- 2at a higher than normal price Shares are selling at a premium.
to think that somebody/something is particularly important or valuable The company places a high premium on initiative.