Should I get the Great Eastern - Great Family Care?

I am a single child and my parents are 68 with basic Eldershield and hospitalisation plan. Am planning to get this plan as a safety net to cover my parents.

Was recommended to get GFC X 4 (50K) coverage for me (53 CI) and 4 x parent rider (15k) for them to cover Cancer, Alzheimer, Parkinson and Dementia.

Premiums will be $253 x 4 & $304 x 4 respectively annually.

Reason for 4 policies is to enable flexibility when claiming for either parent in future.

Is this a wise move? Thanks!