NASCAR Legend Kyle Busch and wife, Samantha, represented by RP Legal, Lose $8.5 Million, Become Cautionary Tale in Indexed Universal Life Insurance "Retirement" Schemes
Misleading IUL Policies Drain Savings from Athletes, Retirees, and Working Families Alike
COLUMBIA, S.C., Oct. 28, 2025 /PRNewswire/ -- Two-time NASCAR Cup Series champion Kyle Busch and wife, philanthropist Samantha, represented by RP Legal, are warning the public after losing millions of dollars in what he describes as a devastating financial scheme tied to an Indexed Universal Life (IUL) insurance policy. His story underscores the growing national crisis of families, retirees, and professionals misled into believing IUL products provide safe, tax-free retirement income.
The complaint accuses Pacific Life and its appointed agent of designing and promoting a series of complex Indexed Universal Life (IUL) policies as "tax-free retirement plans" that were misrepresented as safe, self-funding investment vehicles. According to the filing, the defendants used misleading illustrations, undisclosed costs, and false promises of guaranteed multipliers and controllable charges to induce the Busches to pay more than $10.4 million in premiums, resulting in net out-of-pocket losses exceeding $8.58 million.
"I never thought something like this could happen to us," Kyle 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. What was pitched as retirement income turned out to be a financial trap."
"Now that we are going through this process, I am learning how completely misrepresented these products can be when they're sold," Samantha Busch said. "It makes me worry about families, retirees, and anyone trying to plan responsibly for their future who may be hearing those same promises. If this could happen to us, it could happen to anyone, and I want people to be aware and protect their financial future. If sharing our experience helps even one person protect their financial future, then speaking out is worth it."
Indexed Universal Life insurance policies are aggressively marketed by a national sales force as low-risk, high-reward retirement and estate-planning tools that promise "tax-free retirement" income through policy loans. In truth, they rely on speculative projections and complex cost structures that shift all risk to the consumer, often resulting in rising expenses, shrinking cash values, and retirement plans that unravel just when policyholders need them most. The problem is not the existence of the product itself, but how it is routinely packaged and misrepresented to the public, as a guaranteed retirement solution rather than a high-risk insurance contract by agents and companies chasing commissions.
"This is not just an issue for celebrities or professional athletes. It is an issue for everyday Americans," said Robert G. Rikard, founding attorney of RP Legal LLC. "Across the country, teachers, small business owners, and retirees are being sold complex life-insurance contracts as if they were simple, risk-free retirement plans. 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. Our mission is to hold the industry accountable and help families recover what they have lost."
Victims of Indexed Universal Life schemes often discover years later that the "guarantees" and illustrations they were shown were based on assumptions that could never be sustained. By then, escalating policy costs and vanishing cash values have erased years of savings, leaving families without the retirement security they were promised.
RP Legal LLC represents clients nationwide who have been harmed by IUL policies and is committed to exposing deceptive insurance sales practices surrounding this product. Robert Rikard has helped hundreds of victims of IUL "retirement" schemes recover their lost savings.
Individuals who believe they may have been misled into purchasing an IUL policy can learn more at www.investorlosscenter.com.
About RP Legal, LLC
RP Legal LLC is a national litigation firm based in Columbia, South Carolina, focused exclusively on representing individuals harmed by Indexed Universal Life (IUL) insurance policies. Founded by veteran trial attorney Robert Rikard, who has represented more than 400 clients in IUL cases gone wrong and recovered tens of millions of dollars from insurance companies, agents, and financial firms that marketed IULs as retirement or investment plans. RP Legal LLC brings decades of courtroom experience to a nationwide effort to hold the financial services industry accountable and help clients restore what they lost. The firm's principal office is located at 2110 North Beltline Boulevard, Columbia, SC 29204.
Media Contact
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SOURCE RP Legal