Difficulty in cancelling a ********** policy.

Let me preface by saying I am an inexperienced first time homeowner. I received a call from BetterLife who were presumably forwarded my details from the bond originator against my wishes. They informed me over the phone that as a requirement to receive my bond, I was to take out mortgage protection cover in the event of death. Given that I wanted the bond, I accepted this.

Now months later I have since found out that the assurance value of my bond was zero and there never was such a requirement for insurance. They blatantly **** to me to secure the sale of the policy. I have also discovered that my premium is overpriced compared with other offerings in the market. The current challenge is now that they refuse to cancel my policy without a cession letter from the bank, but the bank has informed me that they have no records of a policy on my home loan ceded to them in the first place!

Avoid this broker as they lie and drag their feet while charging you inflated premiums!!!