What is the definition of premium?
the value of something lost or damaged.
the highest payout by an insurer.
the amount paid for an insurance policy.
the best insurance available.

The correct option is this: THE AMOUNT PAID FOR AN INSURANCE POLICY.
Premium refers to the the amount of money that one has to pay for an insurance contract. The premium represents the income of the insurance company concerned. The amount of premium paid for different insurance usually differ depending on a number of different factors, but generally the greater the risks associated with an insurance policy, the higher the premium that will be paid.

Atahualpaemperor of the inca empire who rose to the throne after winning a civil war between him and his brother.  -he refused to become a spanish vassal or christian.-francisco pizarro kidnapped him and demanded a huge ransom.  -pizarro's secretary described him as "a man of thirty years, good-looking and poised, somewhat stout, with a wide, handsome, and ferocious face, and the eyes flaming with blood."-after the ransom was paid, atahualpa was killed by pizarro