Backtracking on quotation and offer of cover

I have been a loyal Momentum client for 15 years, having various products with them (i.e. RA, Myriad and Investo etc). My financial adviser notified me of a useful product offered by Momentum with ancillary benefits called the Homeloan Protector. I satisfied all the conditions according to the factsheet and then after application received a quote which I accepted. Yesterday my adviser called to say that Momentum had moved the goalposts and amended the requirements to say it would now only be offered to clients taking out a NEW bond. I have an existing bond, what is the difference? Please explain this to me?

This is very inequitable and utterly poor behavior to insert new requirements at the 11th hour (they decided this on Friday and my quote is dated 30 April 2020). I am an existing client in good standing with Momentum and deserve better service, this is unfair treatment. My risk profile is well known to Momentum and they must honor the quotation provided to me. Needless to say it was the same company that was less than 2 years ago were forced backtracked on similar treatment to another client. I kindly request that you reconsider your action and reverse this decision.