In recent years，insurance companies have been creating unconventional insurance products. Although these unconventional insurance products are beneficial to the development of the insurance companies in the shot term, they have a negative impact on the entire insurance industry in the medium and long germ. Based on the theory of biased beliefs，the paper constructs a model of decision-making function to analyze the impacts of these insurance products of different phases. It is found that these unconventional insurance products weaken the essential functions of insurance products and make the consumers misunderstand these products. Then，on the basis of questionnaire survey and the data analysis，it is shown that the masses have evident biased beliefs and are easy to have distorted impression on the unconventional product. Therefore，it is necessary for insurance companies to take serious attitude toward creative products. At the same dime，supervision departments are responsible for strengthening supervision and providing appropriate guidance fox insurance companies.