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What does premium mean?

Looking for the meaning or definition of the word premium? Here's what it means.

Adjective
  1. Superior in quality; higher in price or value.
Noun
  1. A prize or award.
  2. Something offered at a reduced price as an inducement to buy something else.
  3. A bonus paid in addition to normal payments.
  4. The amount to be paid for an insurance policy.
  5. An unusually high value.
  6. (finance) The amount by which a security's value exceeds its face value.
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