Kyle Busch and his wife, Samantha Busch, are warning families after claiming they lost millions of dollars in what they describe as a hidden insurance scam involving Pacific Life.
The NASCAR champion said they were misled into purchasing index universal life (IUL) policies that were sold as safe and smart retirement plans.
“We’ve always tried to take the hardest chapters of our life — infertility, loss, setbacks — and use them for good,” Busch wrote on X.
“Today is one of those moments. We are sounding the alarm on a hidden insurance scam involving policies being sold by Pacific Life and other insurance carriers.”
He said the policies were promoted as “smart retirement planning” or ways to “set up your children’s future,” but many families are being deceived and left with devastating losses.
Busch warned followers: “If you’ve been approached with a ‘no-risk’ retirement plan tied to an index universal life product (IUL)… RUN!”
Speaking Out From New York
In a video recorded in New York City, the couple said they are now in litigation with Pacific Life. They explained that they had invested in IUL policies as a way to secure their financial future but lost everything they put in.
“We have a press release out that we are in litigation with Pacific Life in regards to IUL policies and insurance policies that are also retirement policies for planning for our future,” Kyle said in the video. “And unfortunately, ours did not go well.”
Samantha added that they were trying to make responsible decisions for their family, including their two children, Brexton and Lennox.
“We were trying to be financially responsible for them and plan for our future,” she said. “And little did we know that by investing money in this scam, it’s all gone.”
The couple said they wanted to use their experience to prevent others from being misled.
“We’re out here speaking out about what happened because this just isn’t happening to athletes and celebrities,” Samantha said.
“This is happening to teachers, police officers, veterans. This is happening to widows. These are people who are 70 years old. They have nothing else to fall back on.”
She added, “We’re going to keep fighting Pacific Life and we’re going to show the world that this was a huge and utter scam.”
Allegations of Misrepresentation
According to a complaint filed by RP Legal, the Busches allege that Pacific Life and its appointed agent designed and marketed a series of complex IUL policies as “tax-free retirement plans” that were misrepresented as safe and self-funding.
The lawsuit claims they were shown misleading illustrations and promised guaranteed multipliers, but ended up losing more than $8.58 million after paying over $10.4 million in premiums.
“I never thought something like this could happen to us,” Busch said in a statement released by RP Legal.
“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. 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.”
Samantha said the experience has opened their eyes to how easily others can be misled. “It makes me worry about families, retirees, and anyone trying to plan responsibly for their future who may be hearing those same promises,” she said.
“If this could happen to us, it could happen to anyone.”
Robert G. Rikard, founding attorney of RP Legal, said, “The danger lies not in the product itself, but in how it’s marketed and presented as guaranteed paths to retirement security. Kyle and Samantha’s experience is a clear example of how easily that can happen.”
A Financial Advisor Weighs In
After Busch’s post gained traction, investor and financial advisor Ross Gerber shared it on X, saying the problem likely came down to misunderstanding the role of life insurance.
“Sadly ignorance and a lack of a good financial advisor… could easily explain why ‘life insurance’ is not a retirement plan,” Gerber wrote. “It’s to protect your family… it can build nice cash value if done right. But it’s life insurance.”
Gerber’s comment reflects a common view among financial professionals, who often warn that index universal life products can be complex and are sometimes marketed in misleading ways.
While these policies do offer life insurance coverage and a cash value component tied to market performance, fees and interest caps can limit returns, and poor structuring can result in significant financial losses.
Warning To Consumers
The Busches said their goal now is to prevent other families from going through the same experience. They encouraged people to seek transparent advice before purchasing any financial product labeled as a “no-risk” investment or retirement plan.
“Your future matters. Your family’s security matters. You deserve transparency,” Kyle said in his original post.
Their lawsuit against Pacific Life is ongoing, and the couple promised to share updates as the case moves forward.
IMAGE CREDIT: ”Kyle Busch at Las Vegas Motor Speedway in 2025” by TaurusEmerald, via Wikimedia Commons. Licensed under CC BY-SA 4.0. Image adjusted for layout.