Seguro de decesos

Seguro de decesos
 

Is this the common term for life insurance in Latin American Spanish?

For "life insurance", in Mexico we say "Seguro de vida".
I had never heard "seguro de decesos", but from the description, this one is made only for paying funeral expenses, while a "seguro de vida" is made for making sure the family will have some kind of income after the insured person dies.