Standard Bank Insurance trying to rob people

I called the Standard Bank home loans call centre as I wanted to find out why my bond installment changed in Jan 2021. The consultant advised me that there was in increase to my credit life policy and that I was now paying R1078.91. This policy was taken out last year, and the consultant advised me that the amount was R500 and not over R1000. I was never informed that my policy would increase according to my age and balance of bond.

I feel that Standard Bank Insurance is robbing their customers as this was not disclosed to me on inception.

I need this credit life policy cancelled with immediate effect!