Disclaimer: According to the decision of the AmCham Board of Directors, Insurance Foundation for Servicemen joined AmCham Armenia as an Honorary Member, taking into account the unique status of the IFS.
The Insurance Foundation for Servicemen (IFS) was created in 2017 after the 4 Day War with the sole mission to provide compensation to families of fallen heroes and to veterans severely injured due to war. It is not a just another charity organization, but rather a social impact life insurance model that allows us Armenians in Armenia and worldwide to take care of those who gave life or limb for Homeland. IFS is Congressionally chartered, it is governed by an independent and professional board, mainly from the Diaspora. As of today, IFS has 4,825 active cases and has paid out over $150,000,000 in compensation. Since its inception, IFS has attracted over $27,900,000 in voluntary donations from Armenia and worldwide, naturally most of it during and after the war. The rest of the funds are being generated from mandatory employee contributions from residents of Armenia and Artsakh ($195,000,000 since 2017). IFS provides monthly life insurance payouts between $200-$600 for 20 years to beneficiaries stipulated in the law.