Yes, you should report the interest. The IRS requires that you report all of your income, even if it's less than $600 and you didn't get a tax form for it. I suggest asking your insurance company to verify the amount of interest Income so that you will have the correct information if they decide not to issue the form.
A bank, financial institution, or other entity pays you at least $10 of interest during the year, it is required to prepare a Form 1099-INT, send you a copy by January 31, and file a copy with the IRS. All interest income should be reported on your tax return.
Also, click HERE for additional information about Interest Income
IRS has a short tutorial on certain income and deductions: IRS Interest Income Tutorial
[Edited February 10, 2024 | 11:14 AM PST]
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