Kyle Busch’s Lawyer Shuts Down 'False' $10M Conspiracies With Legal Warning

Kyle Busch’s sudden demise has caught the attention of the media cycle, and while tributary articles flowed in about his winningest NASCAR career, there are also conspiracy theories floating around. 

One such rumored theory was that the Busch family had no life insurance, leading to speculation that the family would be financially vulnerable after Busch’s passing.

However, his lawyer, Robert Rikard, went on the offensive to say that the false rumors are problematic and asked anyone who has shared the information to either remove it or correct it accordingly.

He posted a lengthy note to his LinkedIn, which read, “Some on this platform, in the media, and elsewhere are pushing a false narrative about the Busch IUL matter. It needs to be stopped, and those publishing statements are on notice to correct them.”

The post then referred to the Busch vs Pacific Life case, which was settled out of court. In 2018, Kyle and Samantha Busch chose a package from Pacific Life for which they paid a premium of over $10 million.

What Actually Happened with the Buschs’ Life Insurance

After losing about $8.4 million, the Busch family filed on the grounds of misrepresentation of ‘safe and tax-free retirement plans.’ While the matter was settled out of court, the conversations being floated are about the Buschs abandoning their IULs. Their lawyer hit back hard. 

“The suggestion that they were advised by anyone to abandon tens of millions in death benefit protection is a fabrication, and those repeating it know it is. To continue to do so is at your own peril. These are not differences of opinion about IUL policy design or litigation strategy. These are false statements of facts about what happened,” read Rikard’s post. 

They made a hefty mistake when they lost $8.5 million while paying their premium to Pacific Life, which had tried to quash the case by saying that Busch hadn’t paid the full premium or complained about it way after the designated period. 

Busch’s lawyer cleared it up: “Two policies had no value prior to litigation and were terminated. The remaining policies were handled responsibly.”

The next lines of Rikard’s statements summed up how the Buschs went about in a smart manner to choose their insurance. 

“The Busch family did not walk away from their coverage. They replaced it with better coverage.”

The ‘better coverage’ is claimed to have a $100m lifetime death benefit.