Liberty Life policies to cover Standard bank home loans is a *******

My complaint is very simple, I have a life policy on my home loan with Standard Bank that is underwritten by Liberty that appears to be set up to ensure that my bond will never be paid off in my life time:

I was never told me that they were contracting me to a life policy that has no value when we started this policy in 2004. As a result the balance outstanding has continued to grow instead of coming down. Noone EVER explained to me that the premium was based on the balance outstanding and age of the person with no reference to the amount already paid. Remember thius is a life policy for a home loan not a life policy for a credit card so premiums will be p[aid of twenty years. Nor did they explain it increases every month. I am now 62 years old. In 2022 I had a stroke and a heart attack. I may also have to have open heart surgery something in the next year. Therefore there is no where I can say stop the life policy and go somewhere else, because no one will give me a policy taking into account my age and health. If I had known years ago I could have got a life policy directly with Liberty to cover the same amount at a portion of the premiums I am being made to pay now. Many brokers and agents from other life companies, I have spoken to, say the premium is ridiculous for the cover per the policy. If I could send my complaint to the head of Liberty home loans cover department, I would ask them if this is the level of service they would like the public to perceive as their policy towards their customers, which is to ensure that they never own their property until they day they die, because of the way the Liberty policy calculates the life policy premiums on a home loan cover policy. If I had paid that amount of premiums into a life policy directly with a life company it would have probably had a value in excess of R4m by now, if not more taking into account growth and interest.

I just have one question.... is it Liberty Life’s policy through Standard Bank to sign their customers to a policy THEY KNOW HAS NO VALUE with the concept that they will make a fortune in interest and charges of the life of the bond and the bond will only be paid when the CUSTOMER DIES, BY WHICH TIME THEY MAY HAVE PAID MORE IN PREMIUMS THAN THE ORIGINAL CAPITAL VALUE.