What is premium example?

Premium is defined as a reward, or the amount of money that a person pays for insurance. An example of a premium is an end of the year bonus. An example of a premium is a monthly car insurance payment.

What is the use of premium?

Definition: Premium is an amount paid periodically to the insurer by the insured for covering his risk. Description: In an insurance contract, the risk is transferred from the insured to the insurer. For taking this risk, the insurer charges an amount called the premium.

What do you mean by the term premium?

Broadly speaking, a premium is a price paid for above and beyond some basic or intrinsic value. Relatedly, it is the price paid for protection from a loss, hazard, or harm (e.g., insurance or options contracts). The word “premium” is derived from the Latin praemium, where it meant “reward” or “prize.”

Is the word premium an adjective?

As an adjective, premium implies something of superior quality that probably costs more too. Premium comes straight out of Latin, meaning “reward.” It was first used as an adjective around 1925, in the phrase “premium butter.”

What is the synonym of premium?

superior, premier, high-end, top-end, exclusive, elite, top, select, choice, deluxe, luxurious, classy, prime, first-rate, high-quality, top-quality, high-grade, five-star, fine, finest. British upmarket. North American upscale. inferior.

What is premium and types of premium?

Based on this, the following are the two types of insurance premiums. Level Premium. This is the basic form of premium where the policyholder has to make fixed payments till the end of policy maturity period. There is nothing much in this to learn. Flexible Premium.

What is the Tagalog of premium?

The English word “premium” can be translated as the following word in Tagalog: 1.) prima – [noun] premium (an amount to be paid for an insurance policy or amount added to the initial sum) more…

What is opposite of premium?

Opposite of superior in quality or value. cheap. inexpensive. budget. lousy.

What words describe quality?

170 Words To Describe Quality
FunctionalGood Location
High PerformanceHigh Standard
Nov 24, 2019

Is premium higher than deluxe?

As adjectives the difference between premium and deluxe

is that premium is superior in quality; higher in price or value while deluxe is being very fine in quality or luxurious.

What’s another word for high quality?

What is another word for high-quality?

What is another word for being cheap?

1 thrifty, chary, provident, careful, prudent, penny-wise, scrimping; miserly, stingy, tight, penny-pinching. 2 scant, slim, sparing, skimpy.

What word is higher than premium?

Premium Synonyms – WordHippo Thesaurus.

What is another word for premium?

What’s another way to say quality of life?

In this page you can discover 5 synonyms, antonyms, idiomatic expressions, and related words for quality-of-life, like: well-being, wellbeing, HRQoL, qol and HRQL.

What’s better Supreme or Premium?

Regular gas has the lowest octane rating, Premium has a higher octane and Super (or Supreme or Premium Plus) has the highest octane.

Is premium better than superior?

As adjectives the difference between premium and superior

is that premium is superior in quality; higher in price or value while superior is higher in quality.

What is a better word for the?

What is another word for the?
thisthe aforementioned
the already statedthe previously mentioned

What does octane mean in gas?

An octane rating is simply a measure of how heat resistant a fuel is in order to prevent knocking. In other words, octane doesn’t enhance combustion — it prevents the air-fuel mixture inside an engine from igniting before it’s supposed to. The higher a fuel’s octane, the more resistant it is to knocking.