Kyle Busch’s lawyer has vehemently denied a ‘false narrative’ about the late NASCAR icon’s life insurance policy a week on from his tragic death.
Busch, 41, passed away last Thursday after being rushed to hospital when he became unresponsive in a race simulator near Charlotte, North Carolina.
It was later revealed that the married father of two had pneumonia, which led to sepsis, causing his blood to clot and impeding his organs before he went into hemorrhagic shock.
Busch’s death came two months after he and wife Samantha settled a lawsuit against Pacific Life Insurance Company out of court, after claiming they were misled into purchasing life insurance policies. The couple alleged they paid over $10.4million in premiums based on misleading illustrations and false promises of guaranteed returns.
In the wake of his passing, some users on social media have peddled wild conspiracy theories about Kyle and Samantha being advised to drop their life-insurance policies just months before he died, a notion which has been furiously rejected by their lawyer Robert Rikard.
Kyle Busch’s lawyer has denied a ‘false narrative’ about the late NASCAR icon’s life insurance
Conspiracy theories about Kyle and wife Samantha’s life insurance policy have surfaced online
‘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 false statements are on notice to correct them,’ Rikard wrote in a post on LinkedIn. ‘Two policies had no value prior to litigation and were terminated.
‘The remaining policies were handled responsibly. The Busch family retained an independent insurance specialist — a senior executive at a major national financial institution — who evaluated the entire portfolio and recommended a structured transition to replacement coverage that provides a substantial lifetime death benefit. The Busch family did not walk away from their coverage. They replaced it with better coverage.’
Rikard added: ‘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 fact about what happened.’
The Busches sued Pacific Life last October after claiming they were deceived out of millions, before reaching the undisclosed out-of-court settlement in March.
‘We’re going to show the world that this was a huge and utter scam,’ Samantha said about Pacific Life Insurance in a video shared by the couple on social media in October.
But the couple’s lawyer insists they were fully covered before the racing legend’s passing
Samantha and the couple’s children attended a remembrance ceremony for Kyle last week
Following the news of Kyle’s death, Rikard also said last week: ‘In March, the Busch family and Pacific Life were able to resolve this dispute. Both sides worked constructively to achieve a confidential result that is mutually acceptable and avoids further legal proceedings.
‘On a personal level, this loss is incredibly difficult. Over the course of this representation, I came to know Kyle not just as a client, but as a friend. He was intensely driven, thoughtful, loyal to the people around him, and deeply devoted to his family.
‘Spending time working with him, talking through life, family, racing, and the future, you quickly understood there was much more to him than what people saw publicly. I’ll miss Rowdy, a nickname that he certainly earned.
‘My heart is with Samantha, his children, and everyone who loved him. His passing is truly heartbreaking, and he was taken far too soon.’
