It really depends on the need they have for life insurance.
What do they want their life insurance plan to do?
Do they have debt to be repaid, such as, a home mortgage loan?
Or do they just need enough life insurance to pay their final expenses?
Answering these questions will help you to decide the type and amount of life insurance coverage your parents need.
However, many people choose to purchase a final expenses life insurance plan for each of their parents so there is money available to pay for a burial and funeral costs when your parents pass away.