NASCAR champ Kyle Busch, wife lose millions in insurance scheme, lawsuit alleges
NASCAR champion Kyle Busch and his wife Samantha are suing an insurance company and agent they allege misled the couple about a life insurance policy that cost them $8.58 million.
The lawsuit accused Pacific Life Insurance Company and the agent of misleading the couple about Indexed Universal Life, which the company said would be self-sustaining and fully funded “after a limited number of annual premium payments.”
“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,” Kyle Busch said in a press release Tuesday. “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.”
The couple was told the policy would “generate substantial, tax-free income for retirement,” according to the lawsuit, filed in Lincoln County on Oct. 14 . “Those representations were negligent and false.”
Pacific Life and the agent failed to tell the truth about the risks associated with the policy, the lawsuit alleged, including variable interest crediting, policy charges, underperformance, and potential policy lapse.
The press release said the company and agent used “misleading illustrations, undisclosed costs, and false promises of guaranteed multipliers and controllable charge” to get payments out of the couple.
The couple lost millions out-of-pocket after paying more than $10.4 million in premiums to the insurance company, the press release said.
In a social media video, Busch and his wife said it was a “major scam” and were trying to raise awareness because others have been impacted by it as well.
“We tried to do what was best for our family,” Samantha Busch said. “Little did we know that by investing money in this scam, it’s all gone.”
Busch is a two-time Cup Series champion. Racing for Richard Childress Racing, he is currently the 22nd ranked driver in NASCAR.
A spokesperson at Pacific Life provided the following statement Wednesday in response to the lawsuit:
“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.”
This story was originally published October 29, 2025 at 2:34 PM.
