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 ?
By the age of 4, she'd had seven surgeries, including heart surgery.<br />"I remember receiving her bill from the (neonatal intensive care unit) and worrying she was going to hit her lifetime cap before she was 2 years old, and that was before she had heart surgery," Reisch said.
SYDNEY, AUS, May 18, 2018 - (ACN Newswire) - Leading Asia Pacific CRO Novotech commended the Turnbull Government's Federal Budget decision to exclude clinical trials activity from a A$4m cap on cash refunds, or any lifetime cap on refunds.
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.
As for the desired share of nuclear energy (20-22%), some subcommittee members expressed skepticism about the feasibility of supplying 20% of total power generation with nuclear, because if a 40-year operational lifetime cap is placed on all existing facilities, the capacity of existing plants will have fallen by FY 2030 (Chart 4).
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.
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).