In plain English
This is a total cap that applies across a person's whole life, not just a single period or event. Once the insurer's combined payments for covered claims or benefits reach that amount, the policy will not pay more above that cap.
In context
Here, "lifetime limit" labels the policy's maximum total payout for covered claims or benefits across the insured person's lifetime.
- Situation
- Reading premium, deductible, excess, copay, limit, and out-of-pocket fields
- What it communicates
- labels a lifetime-based limit entry in the policy summary
Meaning limits
The term by itself does not tell you the amount of the limit or whether any particular claim or benefit counts toward it.
Examples
“After decades of covered treatments, the policy hit its lifetime limit and paid nothing further for those claims.”
“Check whether the rehabilitation payments count toward the policy's lifetime limit.”