Oregon
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 Oregon to show you the average expenses in the state and why di

How much does it cost to live in Oregon

Home to approximately 4.176 million people, living in Oregon is less expensive than the average cost of living in the United States. According to Bureau of Economic Analysis data, goods and services in the state cost 1.1% more than the national average. Oregon has the 14th highest overall cost of living when compared to all other states. 

There are eight metropolitan areas in Oregon. The Portland-Vancouver-Hillsboro metro area is the most costly in the state, with costs 3.8% higher than the national average and 2.7% higher than the statewide average. 

Cost of Living Parameters 

Housing & Rent 

On average, Oregon renters pay $1,050 per month, $27 less than the national average of $1,023. If you want to buy a house in the state, the typical home value is $204,900, which is less than the national median home value of $408,800. 

Here are some stats on Oregon Mortgages: 

  • Homeownership rate: 67.6% 
  • Homeowner vacancy rate: 0.8% 
  • Rental vacancy rate: 5.8% 

Childcare  

Child care in Oregon costs an average of $13,616 per year or $1,135 per month. A 4-year-child old's care costs $10,061, or $838 a month. In terms of the most expensive baby care, Oregon is placed 14th out of 50 states and the District of Columbia. Here’s a look at the annual childcare costs from infant to college:   

  • Infant:$13,616 
  • 4-year-old: $10,061 
  • School: $9,818 
  • College: $10,363

Utilities 

Apartment utilities refer to the essential services required in a home such as gas, water, electricity, cable, and internet. An Oregon resident can expect to spend up to $442 per month on apartment utilities on average.

  Food & Groceries 

A single adult in Oregon spends an average of $3,279 on food each year, while a family of four spends $9,470. To put things in perspective, a single adult's annual food expenditure is $3,240, while a family of four's annual food cost is $9,354. These figures are based on a nutritionally appropriate diet obtained from a grocery shop and prepared at home. 

The average price for eating out would be: 

  • A basic meal with a drink at an inexpensive restaurant: $14 
  • Fast Food Combo (Big Mac etc.) : $9 
  • Bottle of Coca-Cola $2.02 
  • Bottle of Water $0.10 

Grocery shopping in the state would cost as follows: 

  • Milk (1 liter regular) $3.42 
  • Loaf of Fresh White Bread (500g) $2.86 
  • Rice (1 Kg) $2.17 
  • Dozen Eggs $3.14 
  • 4 Rolls of Toilet Paper $4.92 
  • Shampoo $8 

Transportation 

Commuters in Oregon drive 81.5% of the time, compared to 85.5% nationwide. The average motorist in the state travels 8,863 miles per year. Taking into account average fuel economy and average gas prices (standard gasoline in Oregon cost an average of $2.67 per gallon in mid-2020), the average motorist in Oregon can expect to spend $977 on gas alone in a year. 

Other transportation costs, such as car insurance prices, can differ from one state to the next. According to data from Insure.com, the average vehicle insurance premium in Oregon is $1,968, which is more than the national average of $1,517. According to EPI data, the average single adult in the state spends $10,004 on transportation each year. 

Average Income & Taxes 

The average yearly income of a single adult living in Oregon is $36,869 and the estimated state income tax is 9.9% 

Most Expensive Oregon Cities to Live in

  • Corvallis 
  • Seaside 
  • Ashland 
  • Wilsonville 
  • Bend

Why is disability insurance important to have in Oregon?

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. Half of the foreclosures on conventional mortgages in Oregon are caused by the disability of one of the homeowners. In fact, the foreclosure rate in Oregon is 0.2%. 

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 Oregon 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, Oregon isn’t one of those states. 

Residents of Oregon may be eligible for federal Social Security Disability Insurance (SSDI) or Supplemental Security Income (SSI) in addition to state assistance (SSI). 

Although initial approval is done at the state level, the criteria for receiving SSDI in Oregon are the same as the rest of the country. You must have a Social Security number and have paid into the system for a long period of time. The program is designed to help people who are unable to work because of a handicap. You can still get benefits if you have a job, but you can't make more than $1,310 per month. 

Oregon tends to approve more disability applications than the national average; however, 60% of applications are denied in the state. 

What qualifies as disability in Oregon?

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) that 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 Oregon?

Seeking a private disability insurance policy is the easiest option in Oregon. 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 Oregon?

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 Oregon 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 Oregon will cost you $3,504 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 while thinking about it: 

Asteya’s policy is a no-brainer, seeing that it is 100% digital. We don't require blood tests or doctor's appointments, unlike other insurers. We'll just ask you a few questions to determine your best policy. 

You’ll be all set once your policy is in place! You'll pay your premiums quarterly, monthly, or annually for the duration of your policy. 

If the unexpected happens and you need to file a claim, our team will be there to assist you in receiving the funds you require as soon as possible. When your claim is approved, you'll receive a payout that you can put toward whatever you need, such as bills, groceries, or medical expenditures. 

How do I get disability insurance?

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