Nomen

die Prämie

bonus, premium, prize, reward

Er erhielt eine Prämie für seine gute Arbeit.

He received a bonus for his good work.

Die Prämie für die Versicherung ist hoch.

The premium for the insurance is high.

Für den ersten Platz gibt es eine Prämie.

There is a prize for first place.

to get a Prämie ((for sth.)) to get a bonus (for sth.) He got a bonus for his performance.

to pay the Prämie ((for sth.)) to pay the premium (for sth.) I have to pay the premium for my car.

Synonyms: der Bonus, die Belohnung, der Zuschlag, der Preis

From Latin 'praemium' (reward, prize).

Sounds like the English word 'premium', which can mean a bonus or an insurance payment.

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