Upon the death of any regular and permanent police official, police chief, or police officer, or any regular and permanent fire fighter, fire chief, or fire fighting official who, at the time of his or her death, was eligible to retire from the service of any city or town which has not accepted the provisions of chapter 21 or 21.2 of this title, then sixty-seven and one-half percent (671/2%) of the benefits that would have been paid to the retired police officer or fire fighter had he or she retired shall be paid to his or her dependent spouse for his or her lifetime until he or she remarries, or if there is no spouse or the spouse remarries, then to his or her dependent children until they attain eighteen (18) years of age.