NASCAR’s Kyle Busch Warns Life Insurance Scheme After $8.5 Million Loss

Two-time NASCAR Cup Series champion Kyle Busch and his wife are warning the public about an alleged life insurance scheme they claim caused their family to lose more than $8.5 million.

Busch and his wife, Samantha, released statements Tuesday announcing that they have taken legal action against Pacific Life for allegedly “designing and promoting a series of complex indexed universal life (IUL) policies as ‘tax-free retirement plans’ that were misrepresented as safe, self-funding investment vehicles.”

“According to the filing, the defendants used misleading illustrations, undisclosed costs and false promises of guaranteed multipliers and verifiable fees to induce the Busches to pay more than $10.4 million in premiums, resulting in net out-of-pocket losses of more than $8.58 million,” said a press release from RP Legal, which represents.

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Busch said in a company statement that he was drawn into a “financial trap.”

“I never thought something like this could happen to us,” he said. “These policies were sold to us as part of a retirement plan – something safe and secure that would grow tax-free and protect our family long after we were gone. We trusted the people who sold them and the Pacific Life name. But the reality is very different. What was billed as retirement income turned out to be a financial trap.”

Samantha Busch echoed that sentiment, adding that their situation “makes me worry about families, retirees and anyone trying to plan responsibly for their future who might be hearing the same promises.”

NASCAR Cup Series driver Kyle Busch’s wife, Samantha Busch, prior to the AAA Texas 500 at Texas Motor Speedway in Fort Worth, Texas on November 3, 2019. (Peter Casey/USA TODAY Sports)

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“If this could happen to us, it could happen to anyone and I want people to be aware and protect their financial future,” she added. “If sharing our experience helps even one person protect their financial future, then speaking up is worth it.”

IULs are a type of life insurance that allows policyholders to build cash value based on the performance of a stock market index while still offering a death benefit, but its returns are limited by caps, reduced by fees and depend on complex formulas that can make it riskier than it seems.

The Busches argue that the policies were riskier and more complex than they were led to believe.

NASCAR Cup Series driver Kyle Busch (8) prior to NASCAR Cup Series Xfinity 500 practice and qualifying at Martinsville Speedway in Martinsville, Virginia on October 25, 2025. (Greg Atkins/Imagn Images)

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“This is not just a problem for celebrities or professional athletes. It is a problem for ordinary Americans,” attorney Robert G. Rikard said in a statement. “Across the country, teachers, small business owners and retirees are being sold complex life insurance contracts as if they were simple, risk-free retirement plans. The danger is not in the product itself, but in how it is marketed and presented as guaranteed paths to retirement security. Kyle and Samantha’s experience is a clear example of how easy it is to get the industry to take a stand and how easy it can help bring the industry back. lost.”

In a statement to Pakinomist Digital, Pacific Life declined to comment on the specifics of the case.

“To preserve the privacy and confidence of our customers, Pacific Life does not comment on the specifics of individual cases. For nearly 160 years, we have been committed to fairness, integrity and acting in the best interests of our customers – and we continue to take this responsibility very seriously. Pacific Life offers several different life insurance products, each with unique features, which are important to understand or advise their individual page to visit or advise on before taking financial advice. more about our products.”