Standard Bank Home loan assuarnce is pathetic

1) This is an ongoing complaint that was apparently looked at by a supposed resolution Specialists who only looked at the legal side without looking at the reality and practicality of the situation. Thus to my mind they never resolved anything. Legally Standard Bank has done nothing wrong but I feel I have been very badly treated around this matter. You can check the records as this is not the first time I have raised this complaint. 2) I was signed up for a life assurance policy by Standard Bank at the inception of my house bonds but no one explained to me that the premium would be based on balance, payments and time to pay. This is great for a credit card but is a total disaster for a home loan. If I had taken a life assurance policy with another service provider, it would have cost me a few hundred a month for the same amount or more cover with better benefits, such as dread disease cover. 3) As a result, purely because of the Standard Bank life assurance premium, at one point the bond was increasing every month instead of coming down. The result was a snowball that interest went up, thus the next month’s premium went up, interest went up and so on. 4) I had a stroke and a heart attack in 2022 and thought that this policy had dread disease cover so would pay the bond. I was sadly mistaken and that is when I discovered what a poor policy this was, hence my comment in 2 above. 5) As a result of my arguing, Standard Bank reversed a portion of the premiums and resulting interest from the premiums paid, which was appreciated but they could have done better. 6) The result to end February 2025 is that I have paid R518K into a life assurance policy , that at end of February 2025 would only have had to pay out R333K. 7) If I had understood how this policy was calculated at inception I could have taken my business somewhere else and been covered in 2022 for dread disease. 8) I would sincerely like to speak to someone at a high level who can make a judgement call, to discuss with them how they would feel if they had paid 150% into a life policy that should have paid out but because Standard Bank had such a poor assurance plan it had no dread disease cover. 9) Of interest was last year a Standard Bank assurance agent wanted to sign me up for a proper life policy at premiums as part of a customer drive in 2024. The premiums calculated were way below what I am being charged for this policy, but I could not accept it because it would not cover me for my chronic conditions which only came into effect in 2022 (despite what the agent and the advert said at the beginning). The cover would have been more than adequate to pay this bond and would have included dread disease as I only asked for a policy to cover the bond which at that time was around R****. 10) My question is “How would you feel if you had paid 150% of the amount needed to cover a home loan into a life policy that would only materialise if you die?”. Not only that but it has no value unless you die. 11) I reiterate if you are going to investigate my complaint from a legal point of view, please do not waste your time or mine, you will get the same result I have had before, Standard Bank has done nothing wrong legal as I signed for the policy. Your records will confirm this, which was Standard Banks’s attitude in the past.