Peter Whish-Wilson (Tasmania, Australian Greens) | Hansard source

Thank you, Minister, but you would accept that that one per cent desperately need that insurance, no more so than in the case of a young person who has cancer.

Sadly, you're right with the information you provided about the leading cause of death, but the second-highest cause of death in this country for young Australians is cancer, which might surprise many people. Every year more than 1,000 individuals in Australia aged between 15 and 25 are diagnosed with cancer. It is the second leading cause of death in this age group. This information was provided to senators during the committee inquiry. And while the overall survival rate is high—89 per cent, thankfully—there is a long process of being drawn away from financial independence and a career path because you have to deal with an extremely traumatic event like getting cancer at that age. They're covered under this scheme. They're covered because this is the default, and it was designed to be provided so that these vulnerable cohorts had a social safety net.

Interestingly, when you read the inquiry submission from the Cancer Council, they say that the total permanent disability insurance associated with superannuation may be the only financial support open to these young people at such a stressful time in their life. But, Minister, they do acknowledge and recognise that a default death benefit may not be required by most of these individuals given the low likelihood that they might have dependents. Was there any consideration given to maintaining the default position on TPD versus payments for life insurance?