In California, which agency oversees life insurance policies and practices?

The Department of Insurance is the correct answer as it is the primary regulatory body in California responsible for overseeing the life insurance industry. This agency's role includes enforcing the state's insurance laws, ensuring that insurance companies operate fairly and transparently, and protecting consumers by ensuring that their rights are upheld in dealings with insurers.

The Department of Insurance handles everything from licensing insurers and agents to approving rates and reviewing policy forms, which directly impacts life insurance policies and practices. This oversight is crucial for maintaining the integrity of the insurance marketplace and ensuring that consumers have access to reliable and competitively priced life insurance products.

Other agencies mentioned, such as the Department of Health Services or the Department of Consumer Affairs, are focused on different areas and do not have the jurisdiction or specific mandate to oversee life insurance policies and practices. The Department of Finance primarily deals with the state's fiscal policies and budgeting, lacking the direct oversight role over insurance matters.