The correct answer is: B. Life insurance does not come under Consumer Protection Act, 1986.
The Consumer Protection Act, 1986 is a law that provides protection to consumers in India. It covers a wide range of products and services, including life insurance. However, there are some exceptions to the Act, and life insurance is one of them. This means that if you have a dispute with a life insurance company, you cannot file a complaint with a consumer forum or commission.
The Act does not cover life insurance because it is considered to be a financial product. Financial products are regulated by different laws, and the Consumer Protection Act is not one of them. If you have a dispute with a life insurance company, you can file a complaint with the Insurance Regulatory and Development Authority of India (IRDAI). The IRDAI is the regulator of the insurance industry in India, and it has the power to investigate complaints and take action against insurers.
If you are not satisfied with the outcome of your complaint with the IRDAI, you can file a case in a civil court. However, it is important to note that this can be a long and expensive process.