So, you don’t mind paying for services you won’t receive? It’s okay to force you to pay for an insurance policy, with the understanding that it will pay for your medical care, and when it comes time for you to collect, you get killed instead. That’s okay with you?
The "policy" in this case explicitly says that I won't be covered whenever, in the estimation of the "insurance company," there's no reasonable chance that any further treatment will produce any beneficial result.
Do I strongly suspect that the "insurance company" opinion might be more motivated by financial concerns than any sincere desire to be helpful? You bet. But that's the deal the citizens of Australia have given themselves. If they don't like it, they should change it.