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Premium vs Contribution - What's the difference?

premium | contribution |

As nouns the difference between premium and contribution

is that premium is bonus (extra amount of money given as a premium) while contribution is something given or offered that adds to a larger whole.

premium

English

(wikipedia premium)

Alternative forms

* (archaic)

Adjective

(-)
  • Superior in quality; higher in price or value.

    • Noun

    (en-noun)
  • A prize or award.
  • Something offered at a reduced price as an inducement to buy something else.
  • A bonus paid in addition to normal payments.
  • The amount to be paid for an insurance policy.
  • An unusually high value.
  • (finance) The amount by which a security's value exceeds its face value.

    • Usage notes

    * (term) is much less common than (premiums), accounting for less than 1% of total usage in US (COCA) and 4% in UK (BNC).

    Antonyms

    * (finance) discount

    Derived terms

    (Terms derived from the adjective or noun "premium") * at a premium * buyer's premium * premium bond * premium outlet

    contribution

    English

    Noun

    (en noun)
  • Something given or offered that adds to a larger whole.
  • An amount of money given toward something.
  • The act of contributing.