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If it's a group insurance, take 20lac and add a top up for 50lac later after waiting period is completed
Bowl Leader
See the health conditions of ur parents, if nothing serious,10L should be more than sufficient. E.g In case of my parents, both are senior citizens but i never had to claim more than 3-4 lakhs. So 10L should be fine. (But again it depends). In addition to base 10L, u can also opt for super top up of 40L/90L as you wish but keep deductible as 10L, u’ll get it cheap
Pro tip - don’t include you or your spouse in parent’s policy, keep one floter for you-spouse-kids and one for parents to save on premiums