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I’ve heard about many other kinds of auto insurance. How can I tell which are important and necessary?

answer:
There are two other kinds of highly recommended auto insurance, and their cost is low enough to make you think twice about doing without them. One is medical payments insurance. This pays for medical treatment, hospitalization, and funerals of all occupants injured or killed in your car, up to the amount of coverage. Payment will be made no matter who was driving, or whether the accident was the driver’s fault. You shouldn’t be driving without at least $2000 of medical payments insurance, which will cost only a few dollars a year.

The other low-cost auto insurance you should carry is called uninsured motorist coverage. With this coverage, you will be able to collect damages if you are hurt by a driver who has no insurance to help him pay you. This protection will cost about $2 or $3 per year.

You can certainly economize on collision and comprehensive insurance, even if you decide you can’t do without them entirely. Collision insurance merely pays for repairs to your car in any kind of accident. Because benefits go down in accordance with a car’s age you probably won’t get enough money to matter if your car is more than 3 or 4 years old. Therefore, you can almost surely do without collision insurance on an old car. Looking at it from another angle, even a series of small repairs could cost you less than the amount of the insurance premium. Besides, insurance companies often penalize you for making small claims—even though you have every right to—by canceling your policy. This legal, if immoral, pressure on you to pay for your own repairs makes collision insurance practically useless for small claims.

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answer:
The one protection every driver should get as much of as possible is liability insurance. In fact, you must by law meet your state’s minimum requirement, if it sets one; but you should have much more than any state minimum. Liability insurance actually protects others against you by paying for any injury you might do them to body or property—and court awards in accident cases resulting in serious disablement or death can wipe you out financially. There is simply no limit to the amount of money you might have to pay, so the more you can meet through your insurance, the better.

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I know that I can’t drive legally without being insured, but auto insurance is a great expense. How can I save on it?

answer:
There are some companies that sell auto insurance more cheaply, and some policies that offer “special treatment” savings. You will simply have to shop widely to get the best possible rates for the coverage you need.

One source you might try is an insurance broker—but be sure to talk to two or three before you decide anything. Brokers not only know many different companies and policies well, but can also advise you on which kind of coverage gives you the most.

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Many Alzheimer’s patients are in denial, which prevents them from getting their legal and financial affairs in order until it’s too late. But there are ways to minimize the damage and ensure their well-being

KNOW THE WARNING SIGNS
If your mom calls three times a day to ask the same question, something may be wrong. The inability to learn new information is a red flag. Additionally, you can ask her what day of the week it is or when she was born, data that should be very familiar to her. When you visit, be concerned if you spot mystery dings on her car or if she’s getting lost driving familiar roads.

BUY A LONG-TERM-CARE POLICY
Alzheimer’s care costs up to $75,000 per year, and regular health insurance covers nothing beyond doctor visits, lab tests, and some prescription drugs. If your parent is still healthy, look into buying long-term-care insurance ($4,000 to $8,000 per year), which cannot be purchased once a diagnosis is made. Purchase a policy for your parent at age 55; if there is a family history of early-onset Alzheimer’s, consider earlier coverage.

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Recently I asked my doctor to prescribe for me by generic name, but he gave me an argument. What am I to make of this?

answer:
Federal Drug Administration and Senate investigations have clearly proved that brand name drugs are more expensive—and, in some cases, outrageously higher—than the same drugs under their generic names. However, many doctors sincerely feel that there is more to it than price. They argue that there is better quality control by large companies producing drugs under a brand name. They feel, then, that brand name medicines are safer. In addition, hard-pressed doctors on busy schedules say it’s hard to keep up with names of the many new drugs. The highly advertised brands stick in their minds and make it easier to prescribe.

Well-meant as these arguments may be, there is no proof that drugs made by small firms are inferior to brand name medicines in either quality or safety factors. In fact, some of the worst scandals on unsafe drugs have involved huge medical companies— usually when they release new drugs that have not been tested enough. Neither is it surprising that doctors remember brand names easier than generic names. Big pharmaceutical companies spend about $800 million a year in advertising directly to doctors—advertising that the general public isn’t aware of.

You can’t force your doctor to prescribe by generic name—and, of course, you shouldn’t try if you trust him or her, and have a good relationship. However, you might talk the matter over again, and ask the doctor to consider the importance of the money savings to you.

I have heard that it is cheaper to buy drugs by their generic name. What does this mean?

answer:
The generic name of drugs, like the generic name of anything else, is the common name given to all drugs of one kind. For example, aspirin is the generic name of one of the most commonly used nonprescription pain killers in the world. You can go into any drugstore and probably find aspirin at prices ranging from 29 to 89 cents for the same size of container. Similarly, prednisone, a drug now widely used in treating arthritis, costs six times more if bought by brand name rather than its generic name. Almost as startling is the fact that the often-prescribed antibiotic tetracycline costs one-half less under the generic name. Many tranquilizers run from one-fourth to one-third cheaper if you avoid buying them by their brand names.