cost for premium outlook

Occasional Visitor

Hoping someone can help. I have Office 365, but appears that outlook is not the premium version (full of ads) I want to upgrade but it looks like the cost for the premium version of Outlook is the cost to have all of Office 365? Which I don't need. Is that correct? Or does that mean it is a 'premium upgrade' for all of Office 365?

They seem to use the term Outlook and 365 interchangeably. I'm confused.

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