Banks like SBI making property insurance mandatory for home loan customers is unethical.

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SBI has made it mandatory for home loan customers to pay for property insurance which only covers the property under natural disasters like earthquake, flood etc. It doesn't cover borrower against the life meaning if borrower dies there will be no relief to his family after him under this insurance. Why it's being then made mandatory for customer when other entities like LIC doesn't ask for it? This is exploitation of home loan customer along with exploitation which they do by charging everything else like property mortgage, processing fees etc from customers which are actually done to safeguard banks interests and not of customer. We will be paying huge EMI whose 90% of the amount will be just going towards interest during initial years. If a home loan customer pays EMI for entire 20 to 30years of tenure, bank will be earning more than double to 2.5times of the actually borrowed amount. Mandating these additional insurances and fees are exploitation of home loan customers.