premium n
1 an amount paid in addition to a standard rate, price, wage, etc.; bonus
2 the amount paid or payable, usually in regular instalments, for an insurance policy
3 the amount above nominal or par value at which something sells
a an offer of something free or at a specially reduced price as an inducement to buy a commodity or service
b (as modifier)
a premium offer
5 a prize given to the winner of a competition; award
6 (U.S.) an amount sometimes charged for a loan of money in addition to the interest
7 great value or regard
to put a premium on someone's services
8 a fee, now rarely required, for instruction or apprenticeship in a profession or trade
a in great demand or of high value, usually because of scarcity
b above par
(C17: from Latin praemium prize, booty, reward)