What do i do with 1099-B How to enter on Federal form was an Insurane Policy and a insurance company went under and isin conservatorship

It is a sale of investment for tax purposes.  You must enter it as follows.

Income & Expenses

1. Scroll to Stocks, Mutual Funds, Bonds, Other
2. Answer Yes to Did you sell stocks, mutual funds, bonds, or other investments in 2020?
3. On the OK, what type of investments did you sell? screen, select Stock, Bonds, Mutual Funds. Then select Continue.
4. From here, you can import or manually enter your 1099-B.
5. Answer the questions about your sales. Choose to Enter sales one by one when asked.
6. On the Now, we'll enter one sale on your 1099-B screen, enter your info.

 If you have a cost basis in the insurance policy, you can use that for your purchase price. This would be what you paid for the policy less any return you may have received during the period you owned the policy. If you do not have that figure or you cannot obtain it, then zero will be your cost basis.