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Pacific Life seeks to dismiss Kyle Busch’s $8.5M lawsuit over insurance policies
Pacific Life argues Kyle Busch failed to fund or maintain Indexed Universal Life policies while the suit claims $8.5 million lost due to misrepresentations on tax-free retirement income.
- Pacific Life Insurance Company on Thursday asked a federal court to dismiss the lawsuit filed by NASCAR champion Kyle Busch and his wife, who allege policies were sold under false and negligent representations as tax-free retirement income.
- Between 2018 and 2022, the Buschs purchased five policies, claiming they were told $1 million for five years would allow $800,000 annual withdrawals, leading to a $10.4 million loss in October.
- In court papers, Pacific Life said both Buschs signed disclosures certifying they understood the policies, which included a `READ YOUR POLICY CAREFULLY` cover letter and a 20-day cancellation window.
- In seeking dismissal, Pacific Life Insurance Company argues the Buschs' claims come seven years after purchases and fall outside the three-year statute of limitations, warning plaintiffs cannot remain `willfully blind` to observable facts.
- The filings underline that an IUL provides a death benefit with a cash-value component tied to a market index, and Busch says he found almost all his money was gone after a sixth premium notice, illustrating the risks of long-term holding.
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18 Articles
18 Articles
Pacific Life seeks to dismiss Busch's $8.5M suit
Pacific Life Insurance Company asked a federal court to dismiss the $8.5M lawsuit filed by NASCAR's Kyle Busch and his wife over policies the Busches claim were sold to them under false and negligent representations as tax-free income for retirement.
·United States
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Pacific Life seeks to dismiss Kyle Busch's $8.5M lawsuit over ins
Pacific Life Insurance Company on Thursday asked a federal court to dismiss the $8.5 million lawsuit filed by NASCAR champion Kyle Busch and his wife over policies the Buschs claim were sold to them under false and
·Baltimore, United States
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Associated Press News+13 Reposted by 13 other sources
Pacific Life seeks to dismiss Kyle Busch's $8.5M lawsuit over insurance policies
Pacific Life Insurance Company has asked a federal court to dismiss an $8.5 million lawsuit filed by NASCAR champion Kyle Busch and his wife.
·United States
Read Full Article
Coverage Details
Total News Sources18
Leaning Left6Leaning Right0Center10Last UpdatedBias Distribution62% Center
Bias Distribution
- 62% of the sources are Center
62% Center
L 38%
C 62%
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