Premium
/ˈpriː.mi.əm/noun
An amount paid in addition to the usual cost, often for added value or quality.
Did you know?The word 'premium' originally referred to a 'reward' or 'prize', linking it to ancient sacrificial practices where offerings were seen as a form of elevated value.
Etymological Timeline
Latin
Latin
praemium
“a reward or prize, often given for a sacrifice.”
Old French
Old French
prèmi
“a reward or gain, particularly in the context of payment.”
Middle English
Middle English
premye
“a reward or payment, often for a service rendered.”
16th Century
English
premium
“a sum added to the usual cost, especially for quality or luxury.”
Modern English
English
premium
“a fee or payment for superior quality or service.”