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Two-time NASCAR Cup Series champion Kyle Busch and his wife are warning the public about an alleged life insurance scheme that 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.”
NASCAR Cup Series driver Kyle Busch (18) and his wife Samantha stand prior to the start of the 1000Bulbs.com at Talladega Superspeedway in Talladega, Alabama, on Oct. 14, 2018. (Jasen Vinlove/USA Today Sports)
“According to the filing, the defendants used misleading illustrations, undisclosed costs, and false promises of guaranteed multipliers and controllable charges to induce the Busches to pay more than $10.4 million in premiums, resulting in net out-of-pocket losses exceeding $8.58 million,” a press release from RP Legal, which is representing the Busches, said.
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Busch said in a statement provided by the firm that he had been dragged 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 racing. We trusted the people who sold them, and the name Pacific Life. But the reality is far different. What was pitched 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 may be hearing those same promises.”
NASCAR Cup Series driver Kyle Busch’s wife, Samantha Busch, before the AAA Texas 500 at Texas Motor Speedway in Fort Worth, Texas, on Nov. 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 out is worth it.”
IULs are a type of life insurance that allows policyholders to build cash value based on a stock market index’s performance while still offering a death benefit, but their returns are limited by caps and reduced by fees, and they depend on complex formulas that can make them riskier than they appear.
The Busches claim that the policies were riskier and more complex than they were led to believe.
NASCAR Cup Series driver Kyle Busch (8) before NASCAR Cup Series Xfinity 500 practice and qualifying at Martinsville Speedway in Martinsville, Virginia, on Oct. 25, 2025. (Greg Atkins/Imagn Images)
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“This is not just an issue for celebrities or professional athletes. It is an issue for everyday 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 lies not in the product itself, but in how it’s marketed and presented as guaranteed paths to retirement security. Kyle and Samantha’s experience is a clear example of how easily that can happen. Our mission is to hold the industry accountable and help families recover what they have lost.”
In a statement to Fox News Digital, Pacific Life declined to comment on the specifics of the suit.
“To maintain the privacy and trust of our clients, Pacific Life does not comment on the specifics of individual matters. For nearly 160 years, we have committed ourselves to fairness, integrity, and acting in the best interests of our clients – and we continue to take this responsibility very seriously. Pacific Life offers several different life insurance products, each with unique characteristics that are important to understand before making a decision. We encourage individuals to visit our website or contact their financial advisor to learn more about our products.”
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