Policy
maximum can be either per policy period, per year,
lifetime or per injury / illness
depending upon the insurance policy you purchase.
For example, if the loan term
depends on the value of interest rate adjustments during the term of the loan, to calculate the
maximum loan term, the creditor assumes that the interest rate rises as rapidly as possible after consummation, taking into account the terms of the legal obligation, including any applicable caps on interest rate adjustments and
lifetime interest rate cap.