Premium
Legal Definition and Related Resources of Premium
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Meanings, Synonyms, Etymology, Translations and More
Meaning of Premium
A consideration; a reward for an act done; a bounty or bonus. Also, the annual or periodic payment made by an insured to the insurer in consideration of the insurer issuing the policy of insurance or renewing the same.
Premium Alternative Definition
(from Lat. praemium, reward). The sum paid or agreed to be paid by an assured to the insurers, as the consideration for the insurance; being a certain rate per cent, on the amount insured. 1 Phil. Ins. 205; 3 Kent, Comm. 253. The price of a risk.
Financial Definition of Premium
(1) Amount paid for a bond above the par value. (2) The price of an option contract; also, in futures trading, the amount the futures price exceeds the price of the spot commodity. Related: inverted market premium payback period. Also called break-even time, the time it takes to recover the premium per share of a convertible security.
International Trade Meaning and Definition of Premium
If a bond is selling above its face value, it is said to sell at a premium.
Legal Definition of Premium
The amount by which a bond or preferred stock may sell above its par value. May refer, also, to redemption price of a bond or preferred stock if it is higher than face value.
What does Premium mean?
The amount you or your employer pays in exchange for health insurance coverage
Synonyms of Premium
(Excess value), noun
amount over par
bonus
bounty
charge beyond normal
charge to excess
excessive charge
extra
incentive
increased value
overcharge
prize
(Insurance payment), noun
amount paid periodically
annual commitment
annual encumbrance
annual fee
annual installment
annual liability
annual obligation
annual payment
annual rate of insurance
annual remittance
contract payment
periodic payment
yearly payment Associated Concepts: assessment of a premium
earned premiums
gross premium
net premium
reduction of premium
adjective
best
capital
choice
desirable
elect
estimable
excellent
fine
finest
firstclass
firstrate
grade A
highgrade
highquality
incomparable
inimitable
matchless
peerless
precious
prime
quality
second to none
select
specially selected
splendid
superb
superfine
superior
superlative
topnotch
unbeatable
unequaled
unmatched
unparalleled
unrivaled
unsurpassed
very fine
worthy
Related Entries of Premium in the Lawi Project
Browse or run a search for Premium in the legal resources (including dictionaries and American law definitions), the Asian legal platform, the European law platform, the British legal resources or the Latin American and Spanish platform and publications (Lawi) about law in the world.
Premium in Historical Law
You might be interested in the historical meaning of this term. Browse or search for Premium in historical law and the evolution of legal systems (study).
Legal Abbreviations and Acronyms
Search for legal acronyms and/or abbreviations containing Premium in the Legal Abbreviations and Acronyms Dictionary.
Related Legal Terms
You might be also interested in these legal terms:
Mentioned in these terms
Grace Period, Group Insurance, Insurance, Material Fact, Mutual Insurance Company, Refund Annuity.
Browse
You might be interested in these references tools, listed by resource (with its description) here:
Premium in the Dictionary: Premium in our legal dictionaries
Browse the Legal Thesaurus: Find synonyms and related words of Premium
Legal Maxims: Maxims are established principles that jurists use as interpretive tools, invoked more frequently in international law
Legal Answers (Q&A): A community-driven knowledge creation process, of enduring value to a broad audience
Related topics: Premium in this project about law in the world (Lawi)
Notice
This definition of Premium is based on the The Cyclopedic Law Dictionary. This entry needs to be proofread.
Vocabularies (Semantic Web Information)
ResourceDescriptionTopic Map: A group of names, occurrences and associations
Topic Tree: A topic display format, showing the hierarchy
Sitemap Index: Sitemap Index, including Taxonomies
https://dictionarylaw.substack.com/p/premium/: The URI of Premium (more about URIs)
Premium Definition (in the Accounting Vocabulary)
The New York State Society of Certified Public Accountants offers the following definition of Premium in a way that is easy for anybody to understand: (1) Excess amount paid for a BOND over its face amount. (2) In insurance, the cost of specified coverage for a designated period of time.
Concept of Premium in the context of Real Property
Alternatives definitions of Premium: (1) Money paid for an insurance policy. (2) A bonus. The opposite of a discount.
Concept of Premium in the context of Real Property
Alternatives definitions of Premium: (1) Money paid for an insurance policy. (2) A bonus. The opposite of a discount.
Premium