The myelin sheath is an extended and modified plasma membrane that is spirally wrapped around the axon of the neuron. The primary purpose of the myelin sheath is to a. insulate the neuron so it can transmit information more efficiently and quickly. A myelinated neuron can transmit the electrical impulses at the speed of 400 Km/h whereas the speed is just 4 Km/h in a non-myelinated or a damaged neuron.