premium

Reading level: hard

Estimated CEFR level: C2 — Proficiency

Estimated from word frequency; not an official CEFR classification.

Definition

  1. noun payment for insurance
  2. noun the amount that something in scarce supply is valued above its nominal value
  3. noun a fee charged for exchanging currencies

Etymology

From Latin praemium (“prize”).

In classic literature

Synonyms

insurance premium

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