It is difficult to provide a definitive answer to this question since there are many variables to consider, such as the age and health status of the parents, the type of coverage desired, and the budget. However, as a general rule of thumb, it is recommended that people have health insurance that covers at least the basics, such as hospitalization, prescriptions, and outpatient care. In India, there are a number of health insurance plans available, both from private insurers and from the government. Some of the more popular private health insurance plans in India include the following:
• Apollo Munich Optima Restore
• Bajaj Allianz Health Insurance
• Star Health Insurance
The government also offers a number of health insurance plans, such as the Ayushman Bharat – Pradhan Mantri Jan Arogya Yojana (AB-PMJAY), which is a health insurance scheme for families belonging to the economically disadvantaged section of society.
To sum up, there is no one-size-fits-all answer to the question of how much health insurance coverage is required for parents in India. It is advisable to sit down with a financial advisor to assess the specific needs of the parent(s) and to find a health insurance plan that fits those needs.