lifetime cap

Lifetime Cap

The maximum interest rate on an adjustable rate loan that may be charged over the total repayment period. For example, a loan may be made at 5% with a 7% lifetime cap, meaning the interest rate cannot rise above 7%.

lifetime cap

See life-of-loan cap.

References in periodicals archive ?
The newer version eliminates the 190-day lifetime cap on inpatient psychiatric hospitalizations in Medicare.
The agreement includes a "no-layoff" provision, a buyout of the union-managed pension, and health care with no lifetime cap.
A $60,000 lifetime cap on means tested care fees across both home and residential care will limit the total cost an individual will spend on their care overall.
For a C corporation, the limitation amount is the lesser of $250,000 for any tax year or a lifetime cap (including for any predecessor corporation) of $1 million (Sec.
With the best of intentions, we created a system where the Medicare end-user has minimal (if any) financial considerations when scheduling an appointment or procedure, regardless of how often they seek care or for how long (for there is no lifetime cap on Medicare benefits).
The modest PS200million a year this will raise is said to be needed to help fund a new lifetime cap on the amount elderly people have to pay in care home fees.
THE Welsh Government was last night studying plans for a PS75,000 lifetime cap on the social care bill the elderly must pay in England.
General Secretary Dot Gibson said: "Setting a lifetime cap on care costs of Au75,000 will help just 10 per cent of those needing care, whilst the majority will be left to struggle on with a third rate service.
Setting a lifetime cap on care costs of PS75,000 will help just 10% of those needing care, whilst the majority will be left to struggle on with a third-rate service.
The Southport MP will use his conference speech to demand a clear commitment to implementing the Dilnot Commission''s proposals for a pounds 35,000 lifetime cap on fees.
But Osterhout said many of the applicants fail to list their Social Security number on the forms, making it impossible to determine how much aid they've already gotten and if they've reached their lifetime cap of $3,000.
A new lifetime cap on the amount of pension saving that can qualify for tax relief is also being introduced, set at pounds 1.