Officials Of the Insurance Foundation For Servicemen Meet with the Los Angeles Armenian Press

GLENDALE — Officials of the Insurance Foundation For Servicemen are visiting various Armenian communities in the United States to report on their activities, especially in the light of the 44-day war.

During their stay in Los Angeles Foundation officials Tatevik Yaghjian, Narine Galstyan, and Sona Baghdasaryan held a press conference in the Armenian Consulate in Los Angeles with the participation of the editors of major Armenian newspapers.

The officials provided information about the activities and programs of the Foundation, which was established by a law passed by the Armenian National Assembly after the 2016 four-day war but is governed by an independent board of trustees. According to the law, each month flat amount of 1000 drams were being transferred to the fund from the salaries of all working citizens of Armenia. After the last war, that 1000 drams became a minimum amount, increasing according to the salary of each individual.

Representatives of the foundation informed that as of today there are 4,582 beneficiaries of the Foundation, 4,165 of whom were registered after the 44-day war, and received total compensation of about  109 million U.S Dollars.  86% of the beneficiaries (3948) are killed heroes, 2% (76) are missing soldiers, and 12% (558) are first or second-degree disabled.

The families of the victims are immediately provided $ 20,000, and the injured are given a monthly stipend according to the degree of the disability.

Since its inception, the Foundation has received about $ 23 million in donations, 70% of which came from Armenia and the rest from more than 70 countries around the world. Most of these donations were collected during and after the last Artsakh war. The rest of the money came from the mandatory contributions of the residents of Armenia and Artsakh.

Representatives of the Insurance Foundation For Servicemen called on Diaspora Armenians to contribute to this sacred cause with small or large donations.

For a closer look at the Foundation’s activities and financial reports, please visit the 1000plus.am website.