NASCAR’s Kyle Busch Warns Against Life Insurance Plan 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 that they say caused their family to lose more than $8.5 million.

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

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

CLICK HERE FOR MORE SPORTS COVERAGE ON PK Press Club

Busch said in a statement provided by the company that he had been lured 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 the race. We trusted the people who sold them and the Pacific Life name. But the reality is much different. What was presented 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 everyone else trying to plan their future responsibly who might hear these 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 November 3, 2019. (Peter Casey/USA TODAY Sports)

FAMILY OF NASCAR STAR DANIEL SUAREZ INVOLVED IN TERRIFYING CAR ACCIDENT

“If this could happen to us, it could happen to anyone, and I want people to be aware of this 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 the performance of a stock index while providing 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 say these policies were riskier and more complex than they were led to believe.

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

CLICK HERE TO DOWNLOAD THE PK Press Club APP

“This is not just an issue that concerns celebrities or professional athletes. This is an issue that concerns 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 policies as if they were simple, risk-free retirement plans. The danger lies not in the product itself, but in the way it is marketed and presented as a guaranteed path to retirement security. Kyle and Samantha’s experience is a clear example of how easily this can happen.

In a statement to PK Press Club Digital, Pacific Life declined to comment on the details of the lawsuit.

“To maintain the confidentiality and trust of our customers, Pacific Life does not comment on the details of individual matters. 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 that are important to understand before making a decision. We encourage individuals to visit our website or contact their financial advisor to learn more. learn more about our products.