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Former NASCAR champion Kyle Busch settles $8.5M lawsuit against life insurance company
The Busches claim they paid $10.4 million in premiums and lost $8.5 million due to misleading sales tactics involving indexed universal life insurance policies.
- On Feb. 26, Kyle Busch and Samantha Busch reached an out-of-court settlement with Pacific Life Insurance Company, resolving an $8.5 million lawsuit, according to a court filing.
- Last October, the couple sued after alleging they paid over $8,500,000 in premiums and lost more than $8.5 million, accusing Pacific Life of misleading marketing.
- In January, Pacific Life argued the suit is time-barred under a three-year statute of limitations, noting it was filed seven years after the policies began.
- Pacific Life said both sides worked constructively to achieve a confidential result that is mutually acceptable and avoids further legal proceedings between the parties.
- Allegations center on how the policies were marketed and sold, saying the dispute involves indexed universal life policies sold as `tax-free retirement plans` and invoking North Carolina's Unfair and Deceptive Trade Practices Act for prioritizing commissions over policyholder interests.
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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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Total News Sources9
Leaning Left4Leaning Right0Center4Last UpdatedBias Distribution50% Left, 50% Center
Bias Distribution
- 50% of the sources lean Left, 50% of the sources are Center
50% Center
L 50%
C 50%
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