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premium (n.)

c. 1600, "reward given for a specific act," from Latin praemium "reward, profit derived from booty," from prae "before" (see pre-) + emere "to buy," originally "to take" (from PIE root *em- "to take, distribute"). Insurance sense is 1660s, from Italian premio. Adjectival sense of "superior in quality" is first attested 1925, originally in reference to butter.