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 ?
At the Democratic convention, Stacey Lihn took the stage, with Zoe in her father's arms behind her, and declared that the most exciting days for them were the day Obama signed the Affordable Care Act into law and the one shortly thereafter when their insurance company told them that Zoes lifetime cap had been lifted.
Mother Theresa's promise for a lifetime cap of circa PS85,000 on paying personal care costs is but a step in the right direction.
There will be a lifetime cap for investors of PS10m.
Arkansas should look at restrictions on assets, a lifetime cap on benefits and other new limits if the state keeps its hybrid Medicaid expansion, Gov.
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.
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.
Imagine a world in which aortic stenosis is fully covered by health insurance but coverage for atrial fibrillation is carved out and assigned partial coverage, with a high copayment, a limit on physician visits and hospital days, and a lifetime cap on coverage.
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.