Kyle Busch, wife Samantha sound the alarm on insurance scam, announce litigation after being 'misled'

Kyle Busch and his wife Samantha filed a lawsuit Lincoln County, N.C, claiming to be misled by Pacific Life Insurance Company into purchasing complex life insurance policies. The complaint, filed Oct. 14, states the Busch’s had losses exceeding $8.58 million.

The complaint states the company misrepresented “Indexed Universal Life (IUL) policies as tax-free retirement plans that would provide self-funding retirement income,” per Matt Weaver of Motorsport. “The reality is far different,” Busch said in a statement.

“I never thought something like this could happen to us,” Busch said. “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.”

We’ve always tried to take the hardest chapters of our life — infertility, loss, setbacks — and use them for good. 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.… pic.twitter.com/RyYPzzN7KM

— Kyle Busch (@KyleBusch) October 28, 2025

Details of Kyle Busch, Samantha Busch lawsuit

The following are notes from the 50-page lawsuit. Weaver obtained the full reading here.

“At all relevant times, Rodney A. Smith acted as an agent, representative, and authorized producer for Pacific Life Insurance Company. Acting within the scope of his agency, Smith presented multiple policy illustrations, projections, and written communications on Pacific Life’s behalf. The recommendations, sales presentations, and illustrations he made to Plaintiffs were negligent, misleading, and fundamentally unsuitable for their financial circumstances. The Pacific Life Indexed Universal Life policies sold and implemented through Smith violated basic suitability and disclosure standards and failed to reveal the true risks associated with variable interest crediting, policy charges, underperformance, and potential policy lapse.

“Smith and Pacific Life represented that the policies would be fully funded and self-sustaining after a limited number of annual premium payments, and would thereafter generate substantial, tax-free income for retirement. Those representations were negligent and false. The illustrations and sales materials emphasized hypothetical growth rates and multiplier effects that could not be sustained under real-world market conditions, and neither Smith nor Pacific Life disclosed the sensitivity of the policies to
cap reductions, policy expenses, or changes in non-guaranteed elements.”

Busch, 40, will wrap up his third season with Richard Childress Racing this Sunday at Phoenix Raceway. The two-time NASCAR Cup Series champion has gone winless since June 2023, the longest such streak of his career.