Presidential Life Corporation, an insurance holding company, operates through its wholly owned subsidiary, Presidential Life Insurance Company, in two primary lines of business: individual annuities and individual life insurance. The Company emphasizes the sale of a variety of single-premium and flexible-premium annuity products (including those written in connection with funding agreements for certain state lotteries, group annuities and other structured settlements), as well as annual and single-premium life insurance products. Each of these products is designed to meet the needs of increasingly sophisticated consumers for supplemental retirement income, estate planning and protection from unexpected death. Presidential is licensed to market its products in 49 states and the District of Columbia. Approximately 41.3% of the Companys 2002 annuity and life insurance products were sold to individuals residing in the state of New York.