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"premiums" vs "premia"

Both 'premiums' and 'premia' are correct, but they are used in different contexts. 'Premiums' is the more common term used to refer to the amount to be paid for an insurance policy or the additional cost for a higher quality product or service. 'Premia' is a less common term used in finance to refer to a bonus or reward.

Last Updated: March 23, 2024

premiums

This is a correct term commonly used in English.

The term 'premiums' is used to refer to the amount to be paid for an insurance policy or the additional cost for a higher quality product or service.

Examples:

  • The insurance premiums for my car went up this year.
  • The premium for the deluxe version of the software is higher.

Alternatives:

  • insurance payments
  • costs
  • fees
  • charges
  • tariffs

premia

This is a correct term but less commonly used in English.

'Premia' is a term used in finance to refer to a bonus or reward.

Examples:

  • The company offers premia to employees who meet their targets.
  • Investors received a premia for their early investment.

Alternatives:

  • bonuses
  • rewards
  • incentives
  • prizes
  • awards

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