Abstract: The apparatus and methods of the present invention create enhanced investment returns for investors by utilizing standard insurance products and recognizing the actuarial expectation of death for lives within a pool of insured lives. In the most preferred embodiments of the present invention, a pooled investment entity, which is a tax “pass through” entity, invests in life insurance policies or otherwise secures life insurance policies placed on lives in a pool of insured lives. A projected return is calculated on an actuarial basis and actual returns are paid based on the experience of deaths in the pool of insured lives.