(a) Straight life insurance policies insuring the lives of the full-time members of the Township Police Department, in the amounts of four thousand dollars ($4,000) each, shall continue to be maintained.
(b) Said insurance coverage shall be in addition to the benefits derived from the Township Police Pension Fund.
(c) As each member retires from active duty after reaching the normal retirement date under said Police Pension Plan, the retiring member shall, upon application, be entitled to assignment of ownership to said member.
(d) In addition, the Township shall increase the amount of term life insurance upon the life of each full-time member of the Township Police Department to six thousand dollars ($6,000).
(Res. 471. Passed 4-21-69.)