Page 2 of the Instructions for Form s 1099-R and 5498 (https://www.irs.gov/pub/irs-pdf/i1099r.pdf:(
Life insurance, annuity, and endowment contracts.
Report payments of matured or redeemed annuity,
endowment, and life insurance contracts. However, you do
not need to file Form 1099-R to report the surrender of a
life insurance contract if it is reasonable to believe that
none of the payment is includible in the income of the
recipient.
