Standard Bank Insurance - What a RIP-OFF !

Standard Bank Insurance - WHAT A RIPOFF !

So here is the small print they DO NOT TELL YOU when you apply for a home loan and take up there standard insurance (as any responsible) home owner would do.

When you pay off your bond (finally - after 20 years) and paying the insurance for 20 years, you now want to register the home in your name and stop the insurance (because you can get it cheaper somewhere else) - THEY CHARGE YOU AN ADDITIONAL 3 MONTHS worth of insurance !

This is how it was emailed to me when I enquired why there suddenly is an outstanding amount on my bond after I received the letter confirming that my bond was paid off :

(THE INSURANCE PREMIUM IS WORKED FOR 3 MONTHS IN ADVANCE)

Yep, they sent it to me in capital letters.

Well, I'm glad I'm done with them ! And No, I will NEVER refer any one to them.