premium-n; 4 Senses

Sense Number 1: a regular installment payment, e.g., insurance

Commentary: PREMIUM[+quantity][+money][+charge][+regular]

Bob pays his annual insurance premium in three payments.
You have to factor in the insurance premium and taxes.

WordNet 3.0 Sense Numbers: 1

Sense Number 2: high intrinsic value

Commentary: PREMIUM[+quality][+value][+enhanced]

This translation company places a premium on accuracy, not speed.
They produce several kinds of premium beers.
Fill my car with the premium.

WordNet 3.0 Sense Numbers: 2

Sense Number 3: a reward paid as an incentive

Commentary: PREMIUM[+quantity][+money][+reward]

John earned a premium last year for being the top salesman in his company.
The army will pay a premium of $1000 to any soldier who re-enlists.

WordNet 3.0 Sense Numbers: 5

Sense Number 4: the market price for something above its par value

Commentary: PREMIUM[+quantity][+price][+market]

Mary paid a premium for these organic apples from Japan.
This fund is trading at a premium of 12 percent.
They are paying a premium for access to water.

WordNet 3.0 Sense Numbers: 3