Premium
Dictionary of Terms and Phrases Used in American or English Jurisprudence · Benjamin Vaughan Abbott · 1879
Dictionary of Terms and Phrases Used in American or English Jurisprudence
A Latin vcord, meaning price or sum paid; which has been Anglicized to stand for the price or payment peculiar to certain transactions. Thus premium for insurance is the price or sum which the underwriter or company exacts as the consideration of undertaking the risk. Shares are said to sell at a premium, when they bring a price above their cost or nominal value.
Premium note
A promissory note which a person insured is allowed, by the practice of some insurance companies, to give for either all or part of the price of the insurance; a note for insurance premium.
Premium pudicitiae
The price of chastity. A compensation for the loss of chastity, paid or promised to, or for the benefit of, a seduced female. Sometimes termed premium pudoris.