Insurance customers may establish and contribute to a self-insurance account. The insured may set aside an amount each policy period that is deposited to the self-insurance account. The value of the self-insurance account may further grow in value with earnings via common investment vehicles. The deposits and investment growth may continue until the account reaches maturity (self-insurance status). From that point forward customers can forego paying insurance premiums. The self-insurance account is accessible to the insured as a financial asset, and may be provided to the insured upon termination of the self-insurance account.