Each full-time police officer of the Village shall be entitled to group term life insurance coverage in the amount of one hundred thousand dollars ($100,000) at Village expense, after his or her appointment as such an officer becomes final. Each part-time police officer of the Village shall be entitled to group term life insurance coverage in the amount of fifty thousand dollars ($50,000) at Village expense, after his or her appointment as such an officer becomes final. Upon retirement, each full-time officer shall receive a ten thousand dollar ($10,000) life insurance policy payable to his or her estate or beneficiary upon his or her death. The full cost of such coverage shall be paid by the Village.
(Ord. 1998-15. Passed 12-15-98; Ord. 2001-20. Passed 12-18-01; Ord. 2007-2; Passed 1-16-07; Ord. 2012-3. Passed 2-21-12; Ord. 2012-23. Passed 10-16-12.)