The difference between innovative life and old life.

Innovative life insurance, also known as non-traditional life insurance or investment insurance, investment-linked insurance, investment and financial insurance, etc. , is a series of new insurance products developed by insurance companies to meet new insurance needs and increase product competitiveness. It is called variable life insurance, universal life insurance and variable universal life insurance in the United States, investment-linked insurance in the United Kingdom, equity-linked insurance in Canada and investment-linked life insurance in Singapore, China and Hong Kong Special Administrative Region.

The difference between innovative life insurance products and traditional life insurance products is that innovative life insurance products usually have investment function, or the premium and insured amount are variable. For example, Ping An Century Financial Investment Linked Insurance sold by China Ping An Insurance Company and Universal Life Insurance Policy launched by China Pacific Insurance Company are all innovative insurance products. Innovative life insurance products mainly include variable life insurance, universal life insurance and variable universal life insurance.