My folks too - and still have it.
It was Whole Life (not term). There are pros and cons. So I still have those Whole Life policies, and then also Term coverage on myself.
I should have bought WL for my kids - maybe I still should (in their 20’s). Obviously, once I got married, the benefits got changed over to my wife.
Its still not to late. If they exercise, have low bmi, and don't smoke, it will still be cheap. Better now to provide them with proof of insurability than not IMHO.
I got policies for my kids as soon as I got their Social Security numbers.