Connecticut
Disability Insurance

Everyone deserves the opportunity to protect their quality of life and their future, and with disability insurance you can. You can think of disability insurance as your financial safety net, giving you an earnings replacement if you’re not able to earn a paycheck due to illness or injury. We’ve laid out the cost-of-living analysis in Connecticut to show you the average expenses in the state and w

How much does it cost to live in Connecticut?

According to the Missouri Economic Research and Information Center's Composite Cost of Living Index, the cost of living in Connecticut is 21.6% higher than the national average. Overall, Connecticut has the 8th highest cost of living among states. Connecticut is highly industrial and service-oriented, with one of the highest per capita incomes in the country. With its abundant allure, well-educated inhabitants, great food and drinks, and rich cultural heritage, Connecticut's cost of living is influenced by a variety of factors.

Cost of living parameters

Housing & Rent

Housing costs, whether they’re for mortgages or rent, will be one of the highest living expenses to consider. The value of a typical home in Connecticut reaches $318,096, whereas the national average home value is slightly higher at $408,800.  

Renting in the state of Connecticut is on the higher side. A typical 2-bedroom apartment in the state will cost you on average $1,745, which is considerably higher than the national average of $1,200!

Here are some stats on Connecticut Mortgages:

  • Homeownership rate: 66.1%
  • Homeowner vacancy rate: 8.09%
  • Rental vacancy rate: 4.7%

Childcare

The average annual cost of care for an infant or toddler in Connecticut is over $15,000 per year, according to CT Voices for Children – that’s $1,292 per month! The biggest issue parents face, according to the report, is finding affordable childcare. Caring for an infant in the state costs 25.5% more per year than in-state tuition for 4-year public college and can take up to 18.3% of an average family’s income.

Here’s a look at the annual childcare costs from infant to college:  

  • Infant: $15,501  
  • 4-year-old: $12,731
  • School: $27,936
  • College: $13,886

Utilities

Apartment utilities refer to the essential services required in a home such as gas, water, electricity, cable, and internet. The cost of utilities in Connecticut reaches an average of $521.

Approximate cost of each utility per month in Connecticut: 

  • Electricity: from $147
  • Water: $69
  • Gas: $137
  • Cable: $47
  • Internet: $50

Food & Groceries

The typical single Connecticut resident spends approximately $3,690 per year on food and groceries, or $307.50 per month. These costs nearly triple to $10,806 per year, or $900.50 per month, for a family of two with two working adults and two children.

Here are some of the average prices in Connecticut cities for a meal in a mid-range restaurant with 3 courses:

  • Bridgeport: $80.00
  • New Haven: $80.00
  • Stamford: $100.00
  • Hartford: $57.50
  • Waterbury: $50.007

Transportation

According to the MIT Living Wage Calculator, the average yearly transportation expense for a single person in Connecticut reaches $4,332 per year. A family of four with two working parents and two children may expect to pay roughly $11,773 in transportation costs per year.

Having your own vehicle in Connecticut might prove to be easier than public transportation. Connecticut ranks as having the lowest average for buying a used car, reaching $30,652 compared to the national average of $34,852. However, car insurance costs in Connecticut are higher than other states with $794 per year for minimum insurance and $1,845 per year for full coverage.

Average Income & Taxes

The average yearly income of a single adult living in Connecticut is $65,045 and the estimated state income tax is $2,575.

Most Expensive Connecticut Cities to Live in

These are the 5 most expensive places to live in Connecticut:

  • Samford
  • Norwalk
  • New Haven
  • Danbury
  • Ansonia

Why is disability insurance important to have in Connecticut?

As shown by the above cost of living study, a steady income is required to live comfortably and worry-free. Whether you work full-time or as a freelancer, getting disability insurance is the first step towards financial stability.

What would happen if you found yourself unable to earn a paycheck because you were too ill or injured to work? According to a recent survey conducted by the personal financial website Bankrate, more than half of Americans (51%) have less than three months' worth of emergency funds.

Medical bills are reported to be the number one cause of U.S. bankruptcies. One study has claimed that 62.1% of bankruptcies were caused by medical issues. Other studies show that over 2 million people are adversely affected by their medical expenses.

If medical bills start piling up, you’ll no longer be able to support your lifestyle in other areas as well, especially if your income is on hold. You might find yourself unable to pay for utilities and rent, and that eventually could lead to foreclosure. In fact, half of foreclosures on conventional mortgages in Connecticut are caused by the disability of one of the homeowners. In fact, the foreclosure rate in Connecticut occurs one in every 5,397 households.

A lot of people still think that the need for disability insurance is not top priority, thinking that disability rarely happens, and when it does, it’s only caused by serious accidents. But did you know that up to 90% of disability cases recorded are due to illness, not injury?

With that being said, getting a private disability income insurance should be on top of your to-do list because life is unpredictable but your income shouldn’t be.

Does Connecticut have state disability insurance?

Only 5 states in the U.S. require companies to provide their employees with disability insurance coverage that includes benefits for accidents or illnesses sustained outside of the workplace. Unfortunately, Connecticut is not among these states.

If you live in Connecticut and are unable to work due to a disability, disease, or debilitating condition, you may be eligible for Social Security Disability Insurance (SSDI) benefits. This program helps you cover your expenses if you have a disability that lasts for 12 months or more. Even though SSDI is a federal program, Connecticut administers it through its own state office, which is responsible for both evaluating eligibility and issuing benefit payments to Connecticut citizens.

However, up to 70% of SSDI claims are denied. Additionally, SSDI benefits do not vary by state; your SSDI payments will remain the same regardless of where you live.

What qualifies as disability in Connecticut?

If you have disability insurance provided by your employer, make sure to double check the criteria in the agreement that qualifies you to receive disability benefits when you’re unable to work. Some of these criteria can include the following:

  • You are unable to perform the Substantial and Material Duties of your Regular Occupation as shown on the Schedule and;
  • You are under the Regular Care of a Physician appropriate for your disabling Sickness or Injury and;
  • There is no reasonable simplified worksite modification(s) which would allow you to perform one or more of the Substantial and Material duties of your regular job.

How can I easily get disability insurance in Connecticut?

Seeking a private disability insurance policy is the easiest option in Connecticut. Here at Asteya, we offer disability insurance (or disability income insurance as we like to call it) that’s simple, fast, and affordable. Our 100% digital process means we don’t tire you out with proof of income, medical exams, phone interviews, or wait times, so you can go from applicant to insured in no time.

Who qualifies for disability insurance in Connecticut?

Most insurances are bought to protect homes, vehicles, and health, but our most valuable asset tends to get neglected: our income. 70% of working Americans live paycheck to paycheck, with little savings to buffer the financial burden of a disability that leaves them unable to work.

At Asteya, we offer 2 types of disability income insurance: Permanent Disability Income Insurance and Sickness & Injury Disability Income Insurance. Please visit asteya.world for more details on the eligibility of our product offering.

How much does disability insurance in Connecticut cost?

Protecting your income shouldn’t be a luxury, so here at Asteya, we’ve created affordable and easy solutions that won’t drain what you’re trying to protect (your income!). Our prices start as low as:  

  • Permanent Disability Income Insurance: starting at $6.05/month
  • Long-Term Disability Income Insurance: starting at is $5/month

The bottom line

On average, living in the state of Colorado will cost you $5,598 per month, give or take – that’s a lot of expenses! You've invested a lot of time and hard work in building a life that works for you, and your hard work should not go to waste due to an accident or illness. That’s why you should protect your lifestyle and your income with DI. 

If you're still on the fence about whether disability income insurance is for you (hint: it is), here are a few extra points to consider:    

  • Asteya’s applications are 100% digital . We don't require blood tests or doctor's appointments, unlike other insurers and we'll just ask you a few minutes of questions to determine your best policy.  
  • Get paid out directly on an approved claim, and spend without restrictions once it's in your bank account.  
  • We've made our Income Insurance as inclusive and accessible as possible. From corner store employees to corner office executives, our products were created to fit every budget and lifestyle.

 

How do I get disability insurance?

Get a quote from Asteya in seconds and go from applicant to insured in minutes