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Recipients of the medal receive several privileges such as a tax reduction and invitations to official state ceremonies.
To this day, 40 medals have been awarded: 12 for actions in the War of Independence (Hero of Israel recipients automatically awarded the Medal of Valor), four for the Sinai War, 12 for the Six-Day War, one for the War of Attrition, eight for the Yom Kippur War and three others awarded on other occasions.
The medal was designed by Dan Reisinger in the shape of a Star of David.
A sword and olive branch decorate the left side, while the reverse is plain. The medal is attached to a yellow ribbon, a reference to the yellow star that Jews were forced to wear during the Holocaust. Two time recipients of the medal attach a small medal-shaped clasp to the ribbon.