American English pronunciation
How to pronounce premiums
IPA transcription: [p'ɹimiəmz]
Hear “premiums” pronounced
[p'ɹimiəmz]
Quality: 0.98
[p'ɹimiəmz]
Quality: 0.98
[p'ɹimiəmz]
Quality: 0.97
Noun
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payment for insurance
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the amount that something in scarce supply is valued above its nominal value
“they paid a premium for access to water”
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a fee charged for exchanging currencies
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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”
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payment or reward (especially from a government) for acts such as catching criminals or killing predatory animals or enlisting in the military
Usage examples
- Average small group commissions range from two percent to eight percent of premiums.