Life Insurance Policy redeemed but there is a loss

Hi, I redeemed my life insurance policy and got a lump sum of money but the sum is less than what I had contributed over the years. It means a loss. Then, do I need to report in my self-assessment return? If I need to report, how should I report that? Can I deduct the loss from my overall income? Thanks.

Hi,

You do not need to report it and you cannot claim the loss against anything else.

Thank you.