Features in View of the COVID-19 Outbreak Instagram is borrowing a feature from it's sister, Facebook, memorialized accounts.
They have been working on the new feature for awhile but due to COVID-19 they are speeding up the process.
A memorialized account will look like a regular Instagram account and will appear only to audiences they were shared with.
Also with the memorialized accounts, no one will be allowed to log into the account or make changes to the photos or videos uploaded on that account.