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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 
4 
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 
9 at a premium 
a in great demand or of high value, usually because of scarcity 
b above par 
 (C17: from Latin praemium prize, booty, reward)