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ore another, or others, in a competition; reward or prize to be adjudged; a bounty; as, a premium for good behavior or scholarship, for discoveries, etc. To think it not the necessity, but the premium and privilege of life, to eat and sleep without any regard to glory. Burke. The law that obliges parishes to support th…

ce company; one whose profession it is to calculate for insurance companies the risks and premiums for life, fire, and other insurances.

The premium or percentage on a better sort of money when it is given in exchange for an inferior sort. The premium or discount on foreign bills of exchange is sometimes called agio.

ponement of delivery of stock or shares, with the consent of the buyer, upon payment of a premium to the latter; -- also, the premium so paid. See Contango. Biddle.

A premium given for a loan, or for a charter or other privilege granted to a company; as the bank paid a bonus for its charter. Bouvier.

oney; but if the ship arrives safe, he is to receive the money lent, with the interest or premium stipulated, although it may, and usually does, exceed the legal rate of interest. See Hypothecation.

A premium offered or given to induce men to enlist into the public service; or to encourage any branch of industry, as husbandry or manufactures. Bounty jumper, one who, during the latter part of the Civil War, enlisted in the United States service, and deserted as soon as possible after receiving the bounty. [Collog.]…

The premium or interest paid by the buyer to the seller, to be allowed to defer paying for the stock purchased until the next fortnightly settlement day. [Eng.]

A plan of distributing surplus by giving to each policy the excess of premiums and interest earned thereon over the expenses of management, cost of insurance, and the policy value at the date of computation. This excess is called the contribution of the policy.

An agreement by which an agent or factor, in consideration of an additional premium or commission (called a del credere commission), engages, when he sells goods on credit, to insure, warrant, or guarantee to his principal the solvency of the purchaser, the engagement of the factor being to pay the debt himself if it i…

a contract by which an insurance company undertakes, in consideration of the payment of a premium or small percentage -- usually made periodically -- to indemnify an owner of property from loss by fire during a specified period. -- Fire irons, utensils for a fireplace or grate, as tongs, poker, and shovel. -- Fire ma…

A premium paid by

damage by a contingent event; a contract whereby, for a stipulated consideration, called premium, one party undertakes to indemnify or guarantee another against loss by certain specified risks. Cf. Assurance, n., 6.

nst a loss by a contingent event, on certain stipulated conditions, or at a given rate or premium; to give or to take an insurance on or for; as, a merchant insures his ship or its cargo, or both, against the dangers of the sea; goods and buildings are insured against fire or water; persons are insured against sickness…

o, or that which, insures; the person or company that contracts to indemnify losses for a premium; an underwriter.

Premium paid for the use of money, -- usually reckoned as a percentage; as, interest at five per cent per annum on ten thousand dollars. They have told their money, and let out Their coin upon large interest. Shak.

condition or circumstances. At par, at the original price; neither at a discount nor at a premium. -- Above par, at a premium. -- Below par, at a discount. -- On a par, on a level; in the same condition, circumstances, position, rank, etc.; as, their pretensions are on a par; his ability is on a par with his ambitio…

French, and man in German; as, people in adversity. People were tempted to lend by great premiums. Swift . People have lived twenty-four days upon nothing but water. Arbuthnot .

A premium paid for an extension of the time of delivery or payment, or for the right to vary a stock contract in any particular. [Cant, U.S.] N. Biddle.

applies for the allotment of shares in new projects, with a view to sell immediately at a premium, and not to hold the stock. [Cant]