Mutual funds are the best option for you at this age compared to direct stocks. Mutual funds give you better growth and have a low risk factor, and it is better than FDs or PPFs. You can start with a SIP in a diversified equity mutual fund, which can help you grow your money over time.

Selecting the best health insurance for your parents that offers cashless and simple claim settlement services is very challenging. But here are a few of the of the best health insurances for you:

Tata AIG MediCare HDFC ERGO Senior Citizen Health Insurance Bajaj Allianz Senior Secure Star Health Senior Citizen Mediclaim

These are the best health insurance you can buy for your parents.

But I would suggest Star Health Senior Citizen Mediclaim and HDFC ERGO Senior Citizen Health Insurance, as both provide a wide range of hospitals, cashless claims, and an easy claim settlement process.