Section 88 of chapter 33 of the General Laws as most recently appearing in the 2002 Official Edition is hereby amended by striking out in the second paragraph the words: “five thousand dollars, payable in a single payment or in two hundred equal weekly payments of twenty-five dollars,” and inserting in place thereof, the following:- “one million dollars, payable in a single payment, or in a schedule of annual payments over a ten year period.”

SECTION 2.  Notwithstanding the provisions of any other law or regulation to the contrary, the commonwealth shall purchase life insurance policies in the amount of one million dollars for each officer or enlisted member of the armed forces of the commonwealth who is called to active duty by the government of the United States or by the governor for such time as said officer or enlisted member remains on active duty.