CHARLOTTE, N.C. (AP) — Two-time NASCAR champion Kyle Busch and a life insurance company have settled an $8.5 million lawsuit in which the driver said he was misled into purchasing policies marketed as safe retirement plans.
Kyle and Samantha Busch reached an out-of-court settlement with Pacific Life Insurance Company, according to a Feb. 26 court filing. Terms were confidential.
“Both sides worked constructively to achieve a confidential result that is mutually acceptable and avoids further legal proceedings," Pacific Life said in a statement.
The Busches sued Pacific Life last October, claiming they lost more than $8.5 million after being misled into purchasing life insurance policies. They claim they paid over $10.4 million in premiums based on misleading illustrations and false promises of guaranteed returns.
The lawsuit accused Pacific Life and one of its agents of marketing indexed universal life policies as “tax-free retirement plans” using speculative projections that failed to disclose true risks and costs. The complaint claimed the company prioritized commissions over policyholder interests and violated North Carolina’s Unfair and Deceptive Trade Practices Act.
Pacific Life filed for dismissal in January, contending the Busches failed to fully fund their policies and signed documents agreeing to the terms. The company also argued the lawsuit exceeds the three-year statute of limitations, noting it was filed seven years after the policies were initiated.
AP auto racing: https://apnews.com/hub/auto-racing
Copyright 2026 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
Please purchase a Premium Subscription to continue reading.
To continue, please log in, or sign up for a new account.
We offer one free story view per month. If you register for an account, you will get two additional story views. After those three total views, we ask that you support us with a subscription.
A subscription to our digital content is so much more than just access to our valuable content. It means you’re helping to support a local community institution that has, from its very start, supported the betterment of our society. Thank you very much!
Only subscribers can view and post comments on articles.
Already a subscriber? Login Here
“Powerful, moving, and exhilarating” Read moreSongs For A New World
Sherri Roberts Quartet with Sherri Roberts vocals, Dave Udolf piano, Chris Amberger bass, an… Read more"I'm Hip" A Tribute to the Hep-Cat Singers-Songwriters of Jazz
Exclusive film screening in San Mateo Read moreA LITTLE FELLOW: THE LEGACY OF A.P.GIANNINI
steve.claesson said:
guestd1f05c09006f503bea99796c said:
guestd1f05c09006f503bea99796c said:
Success! An email has been sent to with a link to confirm list signup.
Error! There was an error processing your request.
Sorry, an error occurred.
Already Subscribed!
Cancel anytime
Thank you .
Your account has been registered, and you are now logged in.
Check your email for details.
Submitting this form below will send a message to your email with a link to change your password.
An email message containing instructions on how to reset your password has been sent to the email address listed on your account.
No promotional rates found.
Secure & Encrypted
Thank you.
Your gift purchase was successful! Your purchase was successful, and you are now logged in.
| Rate: | |
| Begins: | |
| Transaction ID: |
A receipt was sent to your email.
(0) comments
Welcome to the discussion.
Log In
Keep the discussion civilized. Absolutely NO personal attacks or insults directed toward writers, nor others who make comments.
Keep it clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
Don't threaten. Threats of harming another person will not be tolerated.
Be truthful. Don't knowingly lie about anyone or anything.
Be proactive. Use the 'Report' link on each comment to let us know of abusive posts.
PLEASE TURN OFF YOUR CAPS LOCK.
Anyone violating these rules will be issued a warning. After the warning, comment privileges can be revoked.