Kyle Busch and his wife, Samantha, came out with a strong warning to the public on Tuesday after losing millions of dollars in what they say was a catastrophic financial scheme tied to an Indexed Universal Policy (IUL). Their experience highlights the pitfalls of insurance policies that mislead the public into thinking they are safe instruments.
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The accusation against Pacific Life and its agent is that the IUL policies that are being advertised as “tax-free retirement plans” are misrepresented as secure self-funding investment options. Busch claimed that the company used illustrations that were misleading and levied hidden costs to coerce him into paying more than $10.4 million in premiums.
This translates to a loss of over $8.58 million. “We are sounding the alarm on a hidden insurance scam involving policies being sold by Pacific Life and other insurance carriers,” Busch wrote on X.
“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,” he added.
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
Busch is appalled that something like this could happen to an influential person like him. “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,” he said.
“What was pitched as retirement income turned out to be a financial trap,” reiterated Busch, trying to present the gravity of the situation. His wife Samantha, meanwhile, is just beginning to realize how deceptive financial schemes can be.
As a philanthropist, she is worried now about the families and retirees who put their hard-earned money into such false promises. “If this could happen to us, it could happen to anyone,” she said.
IUL policies are marketed heavily as low-risk and high-reward retirement schemes that generate income through policy loans. But in reality, these policies allegedly rely on baseless projections and confusing cost structures that put a major part of the risk on the customers themselves.
This results in policyholders facing difficulties when they need their money the most. The issue stems from not the product itself, but how it is marketed as a retirement solution.
