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Two-time NASCAR Cup Series champion Kyle Busch and his wife are warning the public about an alleged life insurance scheme that they claim caused their family to lose more than $8.5 million.

Busch and his wife, Samantha, released statements Tuesday announcing that they have taken legal action against Pacific Life for allegedly "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 pr

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