NASCAR champion Kyle Busch and his wife, Samantha, have reached a confidential settlement with Pacific Life Insurance in their lawsuit alleging they lost nearly $8.6 million through an indexed universal life insurance strategy that was misleadingly sold to them.

In a joint settlement notice filed last week, the parties notified a judge in the U.S. District Court for the Western District of North Carolina that they had reached the agreement and were documenting and finalizing settlement papers. They intended to file a stipulation or motion to dismiss the case in the following 30 days, with all parties bearing their own fees and costs.

Read at Think Advisor