Here, you have two options – choose individual health policies for them or take them under a family floater health insurance.
Since they are above 55 years of age, insurance companies believe that risks associated with them are larger and hence charge larger premiums. As they are above 55 years of age, they may have to undergo medical checkups. The more medical conditions they have, the more the premium. I personally think you should go for a family floater health insurance which covers your parents. Even if you find it a little expensive, buying health insurance ensures tax deductions under section 80D.
