The two-time NASCAR Cup Series champion and his wife filed suit in North Carolina against Pacific Life and a licensed agent.
LINCOLNTON, N.C. — Two-time NASCAR Cup Series champion Kyle Busch says he and his wife, Samantha, lost more than $8.5 million through what they call a misleading life-insurance scheme, according to a lawsuit filed Oct. 14 in Lincoln County Superior Court and public statements the couple released Oct. 29.
The case centers on a series of indexed universal life policies the couple says were sold as a safe, self-funding “tax-free retirement” plan. The filing names Pacific Life and a North Carolina-licensed agent as defendants and claims the Busches paid more than $10.4 million in premiums, resulting in net out-of-pocket losses exceeding $8.58 million. Pacific Life has said it does not comment on specifics of individual matters but stressed its commitment to fairness and acting in clients’ best interests. The lawsuit pulls a high-profile athlete into a complex fight over how certain insurance products are marketed and the disclosures customers receive.
The complaint says the policies were pitched beginning several years ago and framed as long-term retirement vehicles with illustrated gains, controllable charges and guaranteed multipliers. The couple alleges those features did not materialize as promised, and that repeated premium payments were required to keep the policies from collapsing. Busch, 40, said in a statement that what was sold as retirement income “turned out to be a financial trap.” Samantha Busch said the experience left her concerned about families hearing “the same promises.” The couple’s statements were released the day after the suit became public, and came as the NASCAR season wound down with Busch driving for Richard Childress Racing.
The filing identifies the agent as Rodney A. Smith, doing business through Red River LLC, and asserts Pacific Life should have restricted his role based on regulatory history that, according to the complaint, was a matter of public record in North Carolina. The lawsuit alleges misleading illustrations and undisclosed costs induced the couple to pay multimillion-dollar premiums across multiple contracts. It claims the products’ caps, fees and performance formulas effectively erased projected growth and forced additional funding to prevent lapses. Attorney Robert G. Rikard, speaking for the Busches, said the danger lies not only in the product but in how it is marketed as a guaranteed path to retirement security. Pacific Life said its offerings have unique characteristics that must be understood before purchase and encouraged individuals to consult information about its products.
Indexed universal life, or IUL, ties a policy’s cash value to a market index, typically with limits on upside and charges that can reduce returns. Those features can make performance dependent on illustrations and assumptions, which the suit argues were presented as assured rather than hypothetical. The complaint says the couple believed they were enrolling in a retirement plan rather than primarily buying life insurance and that they relied on the insurer’s name recognition. Busch, known for 20 years of top-tier stock-car racing and two series titles, said he and Samantha shared their story to explain the financial impact they allege and why they are seeking to recover losses.
According to the filing, the couple seeks damages exceeding their stated net losses, along with costs, interest and any additional relief the court deems proper. The complaint asks the court to find the defendants liable for deceptive practices and misrepresentation and to award compensatory and, if warranted, punitive damages. No hearing date was immediately listed on the court’s public docket. Pacific Life has not filed a detailed response in the case as of the most recent public statements, and no criminal allegations are included in the civil complaint. Any mediation or discovery schedule would typically be set after initial responses and a case management conference in Lincoln County Superior Court.
Statements from the Busches emphasize the personal toll and the surprise of seeing millions of dollars, which they believed were funding a long-term family plan, evaporate under ongoing premiums and policy charges. “I never thought something like this could happen to us,” Busch said. Samantha Busch said speaking out felt necessary given what they allege was a system that failed them despite their resources and professional advice. Fans reacted across social media with a mix of sympathy and criticism, reflecting broader debates about complex financial products and the responsibilities of insurers, agents and buyers.
As of Sunday, the case remains in its opening phase, with the couple’s public statements standing alongside the filed complaint and the insurer’s general reply declining to discuss specifics. The next expected step is the defendants’ formal response or motion practice in Superior Court, which would guide scheduling for discovery and any preliminary hearings in December or early 2026.
Author note: Last updated November 30, 2025.