THE LIFE (LIVING INSURANCE FOR EX-PRISONERS) EXPERIMENT HOPED TO PROVIDE EX-INMATES THE OPPORTUNITY TO CHOOSE AMONG A VARIETY OF LEGITIMATE ACTIVITIES SO THEY WOULD WOULD NOT BE FORCED BY ECONOMIC NECESSITY TO RETURN TO CRIME. THE EXPERIMENT'S FINANCIAL AID COMPONENT, BUT NOT ITS JOB-PLACEMENT SERVICES, PROVED EFFECTIVE IN REDUCING THEFT RECIDIVISM. COST-BENEFIT ANALYSIS OF THE PROGRAM SHOWS THAT THE PROVISION OF INCOME MAINTENANCE TO EX-INMATES WAS COST EFFECTIVE IN REDUCING RECIDIVISM. DETAILS OF THE COST-BENEFIT FRAMEWORK AND COMPUTATIONS USED TO EVALUATE THE PROGRAM FROM THE PERSPECTIVES OF SOCIETY AS A WHOLE, THE TAXPAYER, PROGRAM PARTICIPANTS, AND NONPARTICIPANTS ARE PRESENTED, TOGETHER WITH COST-BENEFIT FINDINGS RELATIVE TO EACH PERSPECTIVE. THE DESIGN OF THE LIFE EXPERIMENT, ITS EXPECTED IMPACT, AND EVIDENCE OF ITS EFFECTIVENESS IN REDUCING RECIDIVISM ARE SUMMARIZED. POLICY IMPLICATION OF THE FINDINGS AND DIRECTIONS FOR FURTHER RESEARCH ARE DISCUSSED. SUPPORTING DATA AND A BIBLIOGRAPHY ARE PROVIDED.