I received a 1099r for a distribution from an insurance policy that I paid into for roughly 60 yrs, the amount of the distribution is less that I paid.

I received a 1099r for a distribution from an insurance policy that I paid into for roughly 60 years...the amount of the distribution is less that I paid over the course of the years. Is this treated as taxable income? Can I offset that by the amount of the premiums I paid?