The village shall pay the full cost of a life insurance policy in an amount no less than $5,000 for all full-time employees. This benefit does not apply to part-time employees. The village may elect at any time to increase this benefit or to extend coverage to other family members or full-time employees. Any employee who chooses not to receive this benefit shall not receive any form of compensation in lieu thereof.
(Ord. 2005-13, passed 12-20-05; Am. Ord. 2019-06, passed 12-17-19)