Cost of Living in Texas

According to 2021 data from the Bureau of Economic Analysis, the annual average cost of living in Texas is $45,114.

• • • Housing and Utilities: $7,540
    • Healthcare: $6,593
    • Food and Beverage (non-restaurant): $3,471
    • Gas and Energy: $1,197
    • All Other Personal Expenses: $26,312

Average Base Salaries in Texas

The average salary in Texas is $57,300. Below are average salaries for medical professionals based on data from Indeed in 2024.

• • • Physicians: $168,473
    • Dentists: $236,423
    • Veterinarians: $130,201
    • Nurses: $78,845
    • Anesthesiologists: $402,433
    • Surgeons: $295,844
    • Cardiologists: $209,343
    • Radiologists: $118,802
    • Psychiatrists: $251,308
    • Pediatricians: $197,974
    • Oncologists: $207,121
    • Urologists: $291,554
    • Emergency Medicine Physician: $163,553
    • Dermatologists: $273,843

The Best Disability Insurance Companies for Texas Physicians

Disability insurance is designed to provide income protection if you are unable to work due to an illness or injury. As a medical professional, your future earning potential is substantial, making it vital to safeguard your income. Here’s why it’s particularly important:

1. High Debt Load: Medical training often comes with significant student loans. Disability insurance ensures you can continue meeting your financial obligations even if you can’t practice.
2. Specialized Skills: Your skills are specialized and it can be challenging to find an alternative career with comparable earnings if you can’t practice medicine.
3. Long Training Period: The journey from medical school through residency and fellowship can span over a decade. Disability insurance ensures that this investment in your future is protected.

Without own-occupation coverage, you might find yourself in a situation where you’re unable to practice your specialty but are not eligible for benefits because you can still work in another field. That is why we partner with the below insurance companies who offer the best own-occupation coverage.

• • • Guardian
    • Ameritas
    • The Standard
    • Principal
    • MassMutual