I lost my job due redundancy, do the bank has the...

The loan contract and the insurance contract determine the rights of the bank to claim the value of the loan upon termination of the work contract.
If there is an item in the insurance contract or in the loan contract, the bank is required to ask the insurance company to pay the value of the loan or the insurance company to pay the loan amount upon termination of the work contract, then you can ask the bank to execute this item.
That is, you have to review the loan contract and the insurance contract in order to know your rights.