Cost of Living in Louisiana

According to 2024 data from Forbes Advisor, the annual cost of living in Louisiana is $35,576. Below are some typical costs seen for key expenditures. 

• • • Monthly Mortgage Cost: $2,895
    • Monthly Rent: $1,044
    • Other Monthly Housing Costs: $1,014
    • Annual Food Cost: $3,734
    • Annual Transportation Cost: $5,324
    • Annual Healthcare Cost: $9,796

Average Base Salaries in Louisiana

The average salary in Louisiana is $50,940. Below are average salaries for medical professionals based on data from Indeed in 2024.

• • • Physicians: $256,413
    • Anesthesiologists: $333,837
    • Surgeons: $174,851
    • Cardiologists: $362,589
    • Radiologists: $141,755
    • Psychiatrists: $421,183
    • Pediatricians: $346,333
    • Oncologists: $445,255
    • Gastroenterologists: $198,588
    • Emergency Medicine Physicians: $186,060
    • Dermatologists: $341,026
    • Dentists: $230,405
    • Veterinarians: $119,179
    • Nurses: $70,771

Louisiana Physicians Should Look for These Key Features in a Disability Insurance Policy

1. Own-Occupation Coverage: This type of policy ensures that you receive benefits if you are unable to work in your specific occupation as a medical professional, even if you can work in another capacity.

2. Residual or Partial Disability Coverage: This provides benefits if you can work but your disability limits your capacity, resulting in a reduction of income.

3. Non-Cancellable and Guaranteed Renewable: These policies guarantee that your coverage cannot be canceled, nor can the premiums be increased, as long as you pay the premiums.

4. Future Increase Option: This feature allows you to increase your coverage amount as your income grows without needing to undergo additional medical underwriting.

5. Cost of Living Adjustment (COLA): This rider ensures that your benefits keep pace with inflation, maintaining your purchasing power over time.