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There are two apparent trends in the financial sector: the rise of cross-sector financial products and the digitalization of products. Insurance-based investment products (IBIPs) over the internet are an excellent illustration of these two trends, along with the opportunities and risks for retail investors. This paper explores a path to bridge the risks and benefits associated with the online sale of IBIPs. This path will cover the main issues: how to apply and innovate the current provisions involving the information obligation to the IBIPs over the internet to enhance the regulatory effectiveness, especially from the standpoint of retail investor protection. Concerning the fact that China is the representative market of IBIPs and digital regimes, this paper tries to analyze and compare two legal frameworks of information obligations of online IBIPs in the EU and China to find the advantages and disadvantages of the two legal frameworks. Eventually, based on the findings of the comparative approach, this paper will draw up recommendations on how to improve the effectiveness of online IBIPs’ disclosure in the EU market from three aspects.