Samantha and Kyle Busch opened the lawsuit for $8.5
Kyle Busch and his wife Samantha were suing Pacific Life Insurance Company for $8.5M. The lawsuit was filed on October 14th.
The couple noted that they were under the impression they were buying into a tax-free retirement plan.
The Busch family previously stated, “We are sounding the alarm on a hidden insurance scam involving policies being sold by Pacific Life and other insurance carriers. These are being pitched as ‘smart retirement planning’ or a way to ‘set up your children’s future,’ but too many families are being misled and left with devastating financial loss.”
“Your future matters. Your family’s security matters. You deserve transparency.”
They claimed, “What was pitched as retirement income turned out to be a financial trap.”
The court filing read, “In addition to the widespread misconduct and fundamental flaws in these policy designs, Pacific Life failed Plaintiffs by even allowing Rodney Smith to be involved in these transactions. Smith’s regulatory history in North Carolina alone should have prevented him from structuring, marketing, or selling such complex and high-value IUL policies.”
Now, according to court documents, the lawsuit reached a settlement on February 26th. Terms of the settlement have not been made public.
“Both sides worked constructively to achieve a confidential result that is mutually acceptable and avoids further legal proceedings,” Pacific Life stated after the lawsuit was reached.
Kyle Busch currently runs full-time in the NASCAR Cup Series for Richard Childress Racing. The 2026 season is his 23rd season of competition.
NASCAR driver Kyle Busch opens lawsuit for $8.5M
