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Former NASCAR champion Kyle Busch settles $8.5M lawsuit against life insurance company
Kyle and Samantha Busch alleged misleading sales of indexed universal life policies, paying $10.4 million in premiums and losing over $8.5 million, settling out of court.
- On Feb. 26, Kyle Busch, two-time NASCAR champion, and Samantha Busch reached an out-of-court settlement with Pacific Life Insurance Company resolving an $8.5 million lawsuit, the court filing shows.
- The Busches allege agents marketed indexed universal life policies as 'tax-free retirement plans' using speculative projections, and they paid over $8.5 million in premiums based on false promises.
- Legal filings show Pacific Life moved to dismiss, claiming the lawsuit exceeds the three-year statute of limitations and the Busches failed to fully fund their policies.
- The resolution preserves confidentiality and ends the public lawsuit while keeping the terms private, per the Feb. 26 court filing, and legal proceedings avoided, Pacific Life said.
- This dispute highlights sales practices for indexed universal life policies and potential consumer protections under North Carolina's Unfair and Deceptive Trade Practices Act involving two-time NASCAR champion Kyle Busch.
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Associated Press News+7 Reposted by 7 other sources
Former NASCAR champion Kyle Busch settles $8.5M lawsuit against life insurance company
Two-time NASCAR champion Kyle Busch and a life insurance company have settled an $8.5 million lawsuit in which the driver said he was misled into purchasing policies marketed as safe retirement plans.
·United States
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NASCAR Driver Kyle Busch & His Wife, Samantha, Settle $8.5 Million Insurance Lawsuit With Pacific Life
NASCAR driver Kyle Busch and his wife, Samantha, got back some money they had lost in an insurance scam. The Busch family has always had a way with speaking directly to their fans. In the past, when challenges in life have come up, Kyle and Samantha have taken pride in talking about everything openly and honestly. They often do so in order to let others know that they aren’t alone if they happen to be going through the same thing. Back in Octobe…
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50% Center
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