Thank you for your response. So, just to confirm:
1. Growth on all policies irrespective of whether they are active or surrendered or discontinued, needs to be reported.
2. Form 8938 will not be needed, since the total fund value of all policies does not meet the threshold.
3. No calculation is required when reporting this income, just do the math and provide the final amount?
A follow up question: If there is interest income from a foreign bank account, is that also reported as Other income, or would that go on Schedule B like interest from a US bank account.
I appreciate your help very much.
