Texas
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 Texas to show you the average expenses in the state and why dis

How much does it cost to live in Texas?

It’s well known that everything is bigger in Texas. But does bigger automatically mean more expensive? Surprisingly, Texas is quite affordable. In fact, the average cost of living in the state is 7% lower than that of the National average.

Texas is known for its low tax burden on residents which makes the total costs for real estate, energy and taxes lower than the majority of other states in the United States. Texas has no personal or corporate income tax, and it has one of the lowest state and local tax loads in the US, ranking 32nd among the 50 states in terms of taxes paid per capita and 38th in terms of taxes paid per $1,000 of personal income.

Cost of Living Parameters  

Housing & Rent  

The average home value in Texas is approximately $350,000, 8% lower than the national average of $408,800. This value has gone up 20.9% in the past year alone.  

The average rent in the state of Texas is only 4% lower than the U.S. national average. A typical 2-bedroom apartment in the state will cost you on average $1,229 per month. 

Childcare  

In Texas, a recent study by the U.S. Department of Health and Human Service Standards revealed that only 15.8% of Texan families can afford Childcare. 

“Child care is out of reach for low-wage workers. A minimum wage worker in Texas would need to work full time for 32 weeks, or from January to August, just to pay for child care for one infant.” - Economic Policy Institute. 

Below is a list of childcare annual costs from infant to college:   

  • Infant: $9,324 
  • 4-year-old: $7,0622 
  • School: $10,0643 
  • College: $8,6454 

Utilities  

Apartment utilities refer to the essential services required in a home such as gas, water, electricity, cable, and internet. On average, a Texan resident will spend up to $410 per month for apartment utilities.5 

Approximate cost of each utility per month in Texas:  

  • Electricity: $140 
  • Water: $25 
  • Gas: $110.58 
  • Cable: $85 
  • Internet: $60 
  • Cell Phone: $946 

Food & Groceries  

The typical Texas resident spends $3,177 per year on groceries, or $264.75 per month. For a family of four, the amount of money needed to cover the basic expenses for groceries increases to $9,305 per year, or $775 per month. 

Eating out at restaurants and cafes is considered an additional expense.  

Here is how much a three-course meal would cost in a mid-tier restaurant in different Texas cities: 

  • Houston: $62.10 
  • Dallas: $69 
  • San Antonio: $69 
  • Austin: $69.67 

Transportation  

Public transportation services across the state are available for all residents, making it easy to get around. You’ll need to pay $5,113 annually, that’s $426.08 monthly. Having a monthly transport ticket in Texas will cost you on average $53 per month while a taxi ride for one individual will cost you $15.6 per 5 miles on average.

If you’d rather rely on your own vehicle for transportation, buying a new car in Texas will cost you around $22,000 to $25,000.

Transportation Costs in Texas’ Major Cities:  

  • Houston: $1,116 
  • Dallas: $1,152 
  • San Antonio: $365 
  • Austin: $49510 

Most Expensive Texan Cities to Live in  

These are the 5 most expensive places in Texas:  

  • Austin 
  • Brenham 
  • Dallas 
  • Houston 
  • Midland

Why is disability insurance important to have in Texas?

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 foreclosures on conventional mortgages in Texas are caused by the disability of one of the homeowners. In fact, the state ranks as one of the highest among foreclosure rates (nearly one in every 8,820 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 Texas have state disability insurance?

In five states, companies are required to provide their employees with disability insurance coverage that includes benefits for accidents or illnesses sustained outside of the workplace. Unfortunately, Texas is not among these states. The only automatic coverage that Texans have addresses occupational illnesses or injuries (Workers Compensation) or ailments that last for one year or longer (Social Security). If you’re applying for Social Security Disability Benefits in Texas, it’s very typical for initial claims to be rejected. In fact 35% of applicants are rejected in the initial application process.

As a result, if you don't have enough money to cover six months of missed pay due to an off-the-job accident, sickness, or pregnancy, you might want to take proactive efforts to secure your income such as applying for private disability insurance policies like the one we have here at Asteya.

What qualifies as a disability in Texas?

If you have disability insurance provided by your employer, make sure to double check the criteria in the agreement that qualify 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 Texas?

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

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 Texas 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 $5/month  

The bottom line

On average, living in the state of Texas will cost you $3305 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