The integration and high-speed transmission trends impose stringent demands on the dielectric and fire safety performance of 5th-Generation (5G) terminal communication devices. The existing highly polarized flame retardants cannot achieve a balance between the two, and they are also unable to balance the comprehensive performance of modified resins. This work innovatively introduces a reactive dicyclopentadiene structure into the side chains of linear polyphosphazenes, cleverly achieving a balance between flame retardancy and low dielectric properties through Diels-Alder (D-A) chemistry and free volume control. Firstly, active cyclopentadiene engages in BMI solidification via D-A chemistry, refining the interface to diminish polarization. Secondly, the voluminous three-dimensional cyclic side chains and highly symmetrical, low-polarization conjugated phosphonitrile main chains augment free volume of bismaleimide resin (BMI), disrupt molecular polarization, and reduce the dielectric constant to 2.64. Thirdly, the modified bismaleimide resin exhibits a glass transition temperature surpassing 310 °C and an impact strength increase of 78.5 %. In summary, this innovative approach harmonizes fire safety and low dielectric properties, positioning modified BMI as a prime candidate for next-generation electronic packaging materials.