Ask Amaya – Week 2 [Insurance Myths and what you should know about them]

Hello everyone. It’s been an absolute pleasure working with you all during the past few days. I reached my “100 Happy Customers ” milestone recently and all of us at Save Your Monkey are super excited to continue our mission of making insurance simple for every Sri Lanka.

As your very own online insurance specialist, I’m here to talk about something that I feel is quite important to everyone buying insurance – myths about insurance. 

There are so many things that most of us are conditioned to believe about this industry that we often forget to question if they are actually valid. Is it actual fact or just fiction?

Let’s talk about one such widely accepted myth today.

It’s more expensive to buy insurance via a third party! (or is it really?)

One of the most common beliefs among insurance consumers is that it is relatively more expensive to buy insurance through a third party i.e. an insurance broker, than directly through an insurer.

For instance, you’d imagine that walking into an insurance company and buying insurance from an agent sitting across from you is much cheaper than going through a broker, who’d obviously charge an extra amount as his or her commission.

However, in reality, the amount that is reserved as a brokers’ commission isn’t really an “extra” amount at all.  Even insurers charge this same amount to your final payment as an internal commission that is reserved for their agents. So NO! It is NOT more expensive to buy insurance through a broker.

Which way would you actually save some money?

In terms of the actual insurance policy, the pricing would most often be quite similar. Whether you buy it directly through your insurer or through a broker, you’d end up spending the same amount.

However, switching to an online broker like can lower your expenses drastically, simply because how convenient the whole process is.  You don’t have to spend days visiting one insurer after the other. You don’t have to waste your money on multiple phone calls or complicated processes. You simply need to get online, enter some very basic information and buy your policy through the website. It takes just a few minutes and you get to experience a process that is extremely simple and hassle free. And the best part? If you run into any issues, I’ll give you a call and see how I can help you out.

Want to try it out? Visit and let me help guide you through the simplest insurance process in the country right now!