Texas
Disability Insurance

Every citizen in the world should have a form of insurance coverage that would help them maintain a comfortable lifestyle even through hardship. Let’s look at how you can safeguard your income in this section.

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. 

To estimate the amount of money needed on average to comfortably live in Texas, you’ll need to look at the state’s cost of living index to see how much you’ll be spending.  

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. 

So what would happen if you find yourself unable to work for a long time? If you don’t have Disability Insurance in place, your bills start piling up which will result in problems such as bankruptcy, foreclosure etc. One study has claimed that 62.1% of bankruptcies were caused by medical issues, revealing that over 2 million people are adversely affected by their medical expenses. Adding to it the foreclosure restrictions set in place, the state ranks as one of the highest among foreclosure rates (nearly one in every 8,820 households) with half of foreclosures on conventional mortgages caused by the disability of one of the homeowners.

Many might believe that the need for disability insurance is not top priority, thinking that disability rarely happens, and when it does, it’s caused only by serious accidents. They’re convinced that they won’t ever need it because they’re healthy and will always be able to work.  

But did you know that up to 90% of disability cases recorded are due to illness, not injury? In fact, in Texas 1 in 4 adults have a disability, therefore you’re 3.5x more likely to need disability insurance rather than life insurance.   

If you are self-employed or work as a freelancer, out-of-pocket costs and insurance premiums for health care are relatively high, assuming at least a basic level of health insurance coverage. According to the most recent data, the average cost of health insurance in Texas is $6,324 per person. This equates to $25,294 for a household of four. For an individual with a disability, health care costs could reach $17,189 per year! 

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. However, 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, starting as low as 6$ per month!

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?

The SSA provides two programs that pay disability benefits: Social Security Disability (SSDI) and Supplemental Security Income (SSI):  

  • SSDI is offered to individuals who have a qualified work history with employers that paid taxes to the SSA. 
  • SSI is a government program for those who do not have a qualified job history and have a low income and assets.  

Both programs use the same definition of disability, which is difficult to meet (and your inability to work must last at least one year).   

Seeking a private disability insurance policy is the best option in Texas. Here at Asteya, we offer disability insurance (or disability income insurance as we like to call it) that’s simple and straightforward. Being a 100% digital process, we don’t tire you out with proof of income, medical exams, phone interviews, or wait times. Plus, our policies start as low as 6$/month!  

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  

Disability insurance vs. Texas state disability insurance

If you become sick or wounded and are unable to work, disability insurance pays a percentage of your salary. It can assist anyone who relies on their job to make ends meet. According to the Social Security Administration, one out of every four 20-year-olds will be disabled for 90 days or more until they are 67.  

Adults in Texas may be eligible for Social Security Disability Insurance (SSDI) benefits if they have a disability that prevents them from working. Although SSDI is a federal program, each state controls its applications through a state agency. SSDI benefits are administered in Texas through the Disability Determination Services (DDS), a division of the Texas Department of Health and Human Services. 

For disabled low-income Texas citizens, Supplemental Security Income (SSI) may be another option as well. SSI is an income-based program that provides cash payments to disabled adults and children. Both SSDI and SSI can assist beneficiaries in Texas with paying for health care, personal care, and daily living expenditures. 

However, as mentioned before, this process is tiring with no guarantees that you’ll be approved for the Disability benefits.  

Enter Asteya, a private insurance company that provides a state-of-the-art and 100% digital disability insurance policy (or disability income insurance as we like to call it) that gives you peace of mind in terms of your income security. We don't tire you out with proof of income, medical tests, phone interviews, or wait times because our process is entirely digital. We provide A-rated coverage that can be personalized to your needs and lifestyle. 

How do I get disability insurance?

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