My mom wasn't overprotective during my young or teen years but became overprotective when I was in my thirties and forties. So I know it's not about protection, and it's not about me. It's about them wanting/needing attention.  
 
My mom lived over 5 hours away from me. When my sister and I would drive up there for a visit, no matter whether we arrived on time or not, by the time we got there, our mother would have worked herself up into hysteria worrying. We came to anticipate this, and one of the last holidays we spent together, I added a couple of hours onto the estimated travel time hoping that since she wouldn't be expecting us yet, she wouldn't worry. I expected to arrive about 5 but told her it would be 7 at least. But when we got there two hours early, she was in the same hysterical dither as before. I mean, it was reminiscent of the old movies where you saw silent actresses swooning and fanning themselves.  
 
Then after we got there, we'd usually want to go to the grocery store, and she would have a fit because she didn't want us out overnight. Now, the other 363 days of the year, we sisters both worked and lived in a large metropolitan city without any supervision, so you can see how irrational this was. And this little burg she was in was a small town, not at all dangerous by anyone's standards.  
 
So -- don't expect them to mellow out as they get older. Whatever quirks they had young only get more pronounced -- and like in this case, some of her fears, control issues or need for attention (probably a combination) surfaced in her old age.