ROYAL LIFE INSURANCE CO OF AMERICA SEPARATE ACCOUNT ONE, 485BPOS, 2000-04-13

ROYAL LIFE INSURANCE CO OF AMERICA SEPARATE ACCOUNT ONE
485BPOS, 2000-04-13

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<PAGE>

As filed with the Securities and Exchange Commission on April 13, 2000.
File No. 333-65187
811-9031

SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549

FORM N-4

REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933

Pre-Effective Amendment No. [ ]
Post-Effective Amendment No. 2 [X]

REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940
Amendment No. 3 [X]

SEPARATE ACCOUNT ONE
(Exact Name of Registrant)

SERVUS LIFE INSURANCE COMPANY
(FORMERLY NAMED ROYAL LIFE INSURANCE COMPANY OF AMERICA)
(Name of Depositor)

P. O. BOX 2999
HARTFORD, CT 06104-2999
(Address of Depositor's Principal Offices)

(860) 843-6320
(Depositor's Telephone Number, Including Area Code)

THOMAS S. CLARK, ESQ.
SERVUS LIFE INSURANCE COMPANY
P. O. BOX 2999
HARTFORD, CT 06104-2999
(Name and Address of Agent for Service)

It is proposed that this filing will become effective:
immediately upon filing pursuant to paragraph (b) of Rule 485
----
X on May 1, 2000 pursuant to paragraph (b) of Rule 485
----
60 days after filing pursuant to paragraph (a)(1) of Rule 485
----
on _______, 1999 pursuant to paragraph (a)(1) of Rule 485
----
this post-effective amendment designates a new effective date for a
---- previously filed post-effective amendment.

PURSUANT TO RULE 24F-2(a)(1) UNDER THE INVESTMENT COMPANY ACT OF 1940, THE
REGISTRANT HAS REGISTERED AN INDEFINITE AMOUNT OF SECURITIES.

<PAGE>

Approximate Date of Proposed Public Offering: As soon as practicable after the
effective date of the registration statement.

<PAGE>

CROSS REFERENCE SHEET
PURSUANT TO RULE 495(A)

N-4 ITEM NO. PROSPECTUS HEADING
<S> <C>
1. Cover Page Servus Life Insurance Company;
Separate Account One

2. Definitions Glossary of Special Terms

3. Synopsis or Highlights Summary

4. Condensed Financial Information Performance of the Funds

5. General Description of Registrant, Depositor, and About Us
Portfolio Companies

6. Deductions Charges

7. General Description of Variable Annuity Contracts Your Annuity

8. Annuity Period Settlement Provisions

9. Death Benefit Death Benefits

10. Purchases and Contract Value Payments; Contract Value

11. Redemptions Withdrawals

12. Taxes Federal Tax Considerations

13. Legal Proceedings Legal Matters and Experts

14. Table of Contents of the Statement of Table of Contents of the Statement of
Additional Information Additional Information

15. Cover Page Part B: Statement of Additional
Information

16. Table of Contents Table of Contents

17. General Information and History Introduction

18. Services Independent Public Accountants

<PAGE>

19. Purchases of Securities Being Offered Distribution of the Contracts

20. Underwriters Distribution of the Contracts

21. Calculation of Performance Data Calculation of Yield and Return

22. Annuity Payments N/A

23. Financial Statements Financial Statements

24. Financial Statements and Exhibits Financial Statements and Exhibits

25. Directors and Officers of the Depositor Directors and Officers of the Depositor

26. Persons Controlled by or Under Common Persons Controlled by or Under
Control with the Depositor or Registrant Common Control with the Depositor or
Registrant

27. Number of Contract Owners Number of Contract Owners

28. Indemnification Indemnification

29. Principal Underwriters Principal Underwriters

30. Location of Accounts and Records Location of Accounts and Records

31. Management Services Management Services

32. Undertakings Undertakings
</TABLE>

<PAGE>

Part A

<PAGE>

SERVUS LIFE INSURANCE COMPANY (FORMERLY ROYAL LIFE INSURANCE COMPANY OF AMERICA)
SEPARATE ACCOUNT ONE
P. O. Box 5085
Hartford, Connecticut 06102-5085
Telephone: 1-800-862-6668

This Prospectus describes information you should know before you purchase our
variable annuity. Please read it carefully.

The variable annuity is a contract between you and Servus Life Insurance
Company where you agree to make payments to us and we agree to make a series
of payments to you at a later date. The variable annuity is a flexible
premium, tax-deferred, variable annuity offered to both individuals and
groups. It is:

- Flexible, because you may add payments at any time.
- Tax-deferred, which means you don't pay taxes until you take payments
out or until we start to make payments to you.
- Variable, because the value of your annuity will fluctuate with the
performance of the stock market.

At purchase, you allocate your payments to "Sub-Accounts" or subdivisions of
our Separate Account, an account that keeps your annuity assets separate from
our company assets. These Sub-Accounts then purchase shares of mutual funds set
up exclusively for variable annuity or variable life insurance products. These
funds are not the same mutual funds that you buy through your stockbroker or
through a retail mutual fund, but they may have similar investment strategies
and the same portfolio managers as retail mutual funds. This annuity offers you
funds with investment strategies ranging from conservative to aggressive and you
may pick those funds that meet your investment style. The Sub-Accounts and the
funds are listed below:

- - Hartford Bond HLS Fund Sub-Account which purchases shares of Class IA of
Hartford Bond HLS Fund, Inc.
- - Hartford High Yield HLS Fund Sub-Account which purchases shares of Class
IA of Hartford High Yield HLS Fund of Hartford Series Fund, Inc.
- - Hartford Index HLS Fund Sub-Account which purchases shares of Class IA of
Hartford Index HLS Fund, Inc.
- - Hartford Money Market HLS Fund Sub-Account which purchases shares of Class
IA of Hartford Money Market HLS Fund, Inc.

<PAGE>

- - Hartford Mortgage Securities HLS Fund Sub-Account which purchases shares
of Class IA of Hartford Mortgage Securities HLS Fund, Inc.

You may also allocate some or all of your payments to the "Fixed Account", which
pays an interest rate guaranteed for at least one year from the time the payment
is made. Payments put in the Fixed Account are not segregated from our assets
like the assets of the Separate Account.

If you decide to buy this annuity, you should keep this prospectus for your
records. You can also call us at 1-800-862-6668 to get a Statement of
Additional Information, free of charge. The Statement of Additional
Information contains more information about this annuity and, like this
prospectus, is filed with the Securities and Exchange Commission. We have
included the Table of Contents for the Statement of Additional Information at
the end of this Prospectus. Although we file the Prospectus and the
Statement of Additional Information with the Securities and Exchange
Commission, the Commission doesn't approve or disapprove these securities or
determine if the information is truthful or complete. Anyone who represents
that the Securities and Exchange Commission does these things may be guilty
of a criminal offense.

This Prospectus and the Statement of Additional Information can also be obtained
from the Securities and Exchange Commissions' website (HTTP://WWW.SEC.GOV).

This annuity IS NOT:
- - a bank deposit or obligation
- - federally insured
- - endorsed by any bank or governmental agency
- - available for sale in all states

Prospectus Dated: May 1, 2000
Statement of Additional Information Dated: May 1, 2000

<PAGE>

Table Of Contents

PAGE
----

Glossary of Special Terms. . . . . . . . . . . . . . . . . . . . . . . . . . 4
Summary. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
About Us . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
Servus Life Insurance Company . . . . . . . . . . . . . . . . . . . . . 12
Separate Account. . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
The Funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
The Fixed Account . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
Performance Related Information . . . . . . . . . . . . . . . . . . . . 16
Your Annuity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
Payments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
Contract Value. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
Transfers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
Charges . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
Death Benefits. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23
Withdrawals . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24
Settlement Provisions . . . . . . . . . . . . . . . . . . . . . . . . . 26
Other Information . . . . . . . . . . . . . . . . . . . . . . . . . . . 29
Federal Tax Considerations . . . . . . . . . . . . . . . . . . . . . . . . . 29
General . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29
Taxation of Servus Life and the Separate Account . . . . . . . . . . . 30
Taxation of Annuities - General Provisions Affecting Purchasers
other than Qualified Retirement Plans . . . . . . . . . . . . . . . 30
Federal Income Tax Withholding. . . . . . . . . . . . . . . . . . . . . 35
General Provisions Affecting Qualified Retirement Plans . . . . . . . . 35
Annuity Purchases by Nonresident Aliens and Foreign Corporations. . . . 35
Miscellaneous. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36
How we Sell our Annuity . . . . . . . . . . . . . . . . . . . . . . . . 36
Legal Matters and Experts . . . . . . . . . . . . . . . . . . . . . . . 37
Additional Information. . . . . . . . . . . . . . . . . . . . . . . . . 38
Appendix I Information Regarding Tax-Qualified Plans . . . . . . . . . . . . 39
Table of Contents to Statement of Additional Information . . . . . . . . . . 43

<PAGE>

Glossary of Special Terms

Accumulation Unit: A unit of measure we use to calculate values before we begin
to make payments to you.

Administrative Office of Servus Life: Located at 200 Hopmeadow Street, Simsbury,
CT 06089.

Annual Maintenance Fee: An annual $30 charge for annuities having a value of
less than $50,000 on the most recent Contract Anniversary or when the annuity is
surrendered in full. The charge is deducted proportionately from the investment
options in use at the time.

Annual Withdrawal Amount: The amount that can be withdrawn in any Contract Year
before we charge you a surrender charge.

Annuitant: The person on whose life the Contract is issued. The Annuitant may
not be changed.

Annuity Commencement Date: The date we start to make payments to you.

Annuity Unit: A unit of measure we use to calculate the value of the payments we
make to you.

Beneficiary: The person entitled to receive the payment of the death benefit
upon the death of you or the Annuitant.

Code: The Internal Revenue Code of 1986, as amended.

Commission: The Securities and Exchange Commission.

Contingent Annuitant: The person you may designate who becomes the Annuitant if
the original Annuitant dies before we start making payments to you.

Contract: The contract is the individual annuity and any endorsements or
riders. If you are enrolled under a group annuity, you receive a certificate
rather than a contract.

Contract Anniversary: The anniversary of the Contract Date.

Contract Owner or You: The owner of the annuity.

Contract Value: The total value of your Sub-Accounts plus any amounts you have
in the Fixed Account.

Contract Year: A period of 12 months commencing with the Contract Date the first
year and the Contract Anniversary after the first year.

Death Benefit: The amount we pay when you or the Annuitant dies.

<PAGE>

Due Proof of Death: A certified copy of a death certificate, an order of a court
of competent jurisdiction, a statement from a physician who attended the
deceased or any other proof acceptable to Servus Life.

Fixed Account: This is an account which is part of our General Account and you
may allocate all or a portion of your payments or Contract Value to this
account.

Funds: The Funds described in this Prospectus and any supplements.

General Account: Our General Account that is all our assets other than the
assets in our separate accounts.

Maximum Anniversary Value: One of the values we use to determine your Death
Benefit. It is determined annually on your anniversary date and is equal to the
highest value your annuity reached on any annuity anniversary date. The maximum
anniversary value is calculated only up to age 80, and we use that value each
year after age 80 as your maximum anniversary value.

Premium Tax: A tax charged by a state or municipality on premium payments.

Separate Account: For this annuity, the separate account is Separate Account
One of Servus Life Insurance Company.

Servus Life (or us): Servus Life Insurance Company.

Sub-Account: Divisions established within the Separate Account.

Termination Value: What we pay you if you terminate your annuity before we begin
to make payments to you.

Valuation Day: Every day the New York Stock Exchange is open for trading. The
value of the Separate Account is determined as of the close of the New York
Stock Exchange (generally 4:00 p.m. Eastern Time).

Valuation Period: The period between the close of business on successive
Valuation Days.

<PAGE>

FEE TABLE

CONTRACT OWNER TRANSACTION EXPENSES

<TABLE>
<S> <C>
SALES CHARGE IMPOSED ON PURCHASES (as a percentage of Premium Payments)........................... None
CONTINGENT DEFERRED SALES CHARGE (as a percentage of amounts Surrendered) (1)
First Year (2)........................................................................... 6%
Second Year.............................................................................. 6%
Third Year............................................................................... 5%
Fourth Year.............................................................................. 5%
Fifth Year............................................................................... 4%
Sixth Year............................................................................... 3%
Seventh Year............................................................................. 2%
Eighth Year.............................................................................. 0%
ANNUAL MAINTENANCE FEE (3)............................................................................. $30
SEPARATE ACCOUNT ANNUAL EXPENSES (as a percentage of average daily Sub-Account Value)
MORTALITY AND EXPENSE RISK CHARGE............................................................ 1.25%
Total Separate Account Annual Expenses................................................................ 1.25%
</TABLE>

- --------------------

1) Each Premium Payment has its own Contingent Deferred Sales Charge
schedule. See "Charges and Fees -- The Contingent Deferred Sales
Charge." The Contingent Deferred Sales Charge is not assessed on
partial Surrenders which do not exceed the Annual Withdrawal Amount.
2) Length of time from each Premium Payment.
3) An annual $30 charge deducted on a Contract Anniversary or upon
Surrender if the Contract Value at either of those times is less than
$50,000. It is deducted proportionately from the Accounts in which you
are invested at the time of the charge.

The purpose of the Fee Table and Examples is to assist you in understanding
various costs and expenses that you will pay directly or indirectly. The Fee
Table and Examples reflect expenses of the Separate Account and underlying
Funds. We will deduct any Premium Taxes that apply.

The Examples should not be considered a representation of past or future
expenses and actual expenses may be greater or less than those shown. The Annual
Maintenance Fee has been reflected in the Examples by a method intended to show
the "average" impact of the Annual Maintenance Fee on an investment in the
Separate Account. We do this by approximating an "average" 0.06% annual charge.

ANNUAL FUND OPERATING EXPENSES
AS OF THE FUND'S YEAR END
(As a percentage of net assets)

<TABLE>
<CAPTION>
TOTAL FUND
OPERATING
MANAGEMENT OTHER EXPENSES
FEES EXPENSES (INCLUDING ANY
(INCLUDING ANY (INCLUDING ANY WAIVERS AND ANY
WAIVERS) REIMBURSEMENTS) REIMBURSEMENTS)
<S> <C> <C> <C>
Hartford Bond HLS Fund 0.49% 0.03% 0.52%
Hartford High Yield HLS Fund 0.66% 0.06% 0.72%
Hartford Index HLS Fund 0.40% 0.03% 0.43%
Hartford Money Market HLS Fund 0.45% 0.02% 0.47%
Hartford Mortgage Securities HLS Fund 0.45% 0.03% 0.48%
</TABLE>

<PAGE>

EXAMPLE

<TABLE>
<CAPTION>
- ------------- ------------------------------------- ------------------------------------- --------------------------------------
If you Surrender your Contract at If you annuitize your Contract at the If you do not Surrender your
the end of the applicable time end of the applicable time period you Contract, you would pay the
period you would pay the following would pay the following expenses on a following expenses on a $1,000
expenses on a $1,000 investment, $1,000 investment, assuming a 5% investment, assuming a 5% annual
assuming a 5% annual return on annual return on assets: return on assets:
assets:
- ------------- ------------------------------------- ------------------------------------- --------------------------------------
SUB-ACCOUNT 1 YEAR 3 YEARS 5 YEARS 10 YEARS 1 YEAR 3 YEARS 5 YEARS 10 YEARS 1 YEAR 3 YEARS 5 YEARS 10 YEARS
- ----------- ------ ------- ------- -------- ------ ------- ------- -------- ------ ------- ------- --------
- ------------- ------------------------------------- ------------------------------------- --------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Hartford Bond $74 $107 $140 $216 $18 $57 $99 $215 $19 $58 $100 $216
HLS Fund
- -----------------------------------------------------------------------------------------------------------------------------------
Hartford High
Yield HLS Fund 76 113 150 238 20 64 110 237 21 64 110 238
- -----------------------------------------------------------------------------------------------------------------------------------
Hartford Index
HLS Fund 73 105 135 207 17 55 94 206 18 55 95 207
- -----------------------------------------------------------------------------------------------------------------------------------
Hartford Money
Market HLS Fund 73 106 137 211 18 56 97 210 18 56 97 211
- -----------------------------------------------------------------------------------------------------------------------------------
Hartford
Mortgage 74 106 138 212 18 56 97 211 18 57 98 212
Securities HLS
Fund
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

SUMMARY

How do I purchase the annuity?

You must complete our enrollment form and submit it to us for approval with your
first payment. Your first payment must be at least $1,000 and subsequent
payments must be at least $500. If you wish to make automatic monthly payments
into your annuity, you may enroll in our pre-authorized checking program. Under
this program, your subsequent monthly payments can be as low as $50.

For a limited time, usually ten days after you receive your annuity, you may
cancel your annuity without paying a sales charge.

What type of sales charge will I pay?

You don't pay a sales charge when you purchase your annuity. We may charge
you a deferred sales charge when you terminate or withdraw amounts invested
in your annuity. We assess a sales charge on amounts withdrawn that exceed
10% of the total amounts you have paid into your annuity if these amounts
have been in your annuity for less than seven years. The sales charge is
applied to amounts withdrawn that exceed 10% of the total amounts paid in and
will depend on the length of time the payment you made has been in your
annuity. If the amount you paid has been in your annuity:

- - For less than two years, the charge is 6%.
- - For more than two years and less than four years, the charge is 5%.
- - For more than four years and less than five years, the charge is 4%.
- - For more than five years and less than six years, the charge is 3%
- - For more than six years and less than seven years, the charge is 2%.

You won't be charged a sales charge on:
- - Payments that have been in your annuity for more than seven years.
- - distributions made due to death
- - most payments we make to you as part of your annuity payments
See "Contingent Deferred Sales Charges" for a complete description of how sales
charges are assessed.

Is there an Annual Maintenance Fee?

Yes. We deduct a $30.00 fee each year on the anniversary of your purchase or
when you terminate your annuity, if the value of your annuity is less than
$50,000.

What charges will I pay on an annual basis?

You pay two different types of charges each year. The first type of charge is
the fee you pay for insurance. This charge is:
- - A mortality and expense risk charge that is subtracted daily and is equal
to an annual payment of
<PAGE>
9

1.25% of your money invested in the funds.

The second type of charge is the fee you pay for the funds. The current
annual insurance charges and the total fund charges are set forth in the
table below:

<TABLE>
<CAPTION>
ANNUAL ANNUAL ANNUAL TOTAL
THE SUB-ACCOUNTS INSURANCE MAINTENANCE TOTAL FUND CHARGES YOU
CHARGE FEE(1) CHARGES(2) PAY
<S> <C> <C> <C> <C>
Hartford Bond HLS Fund Sub-Account 1.25% .06% 0.52% 1.83%

Hartford High Yield HLS Fund Sub-Account 1.25% .06% 0.72% 2.03%

Hartford Index HLS Fund Sub-Account 1.25% .06% 0.43% 1.74%

Hartford Money Market HLS Fund Sub-Account 1.25% .06% 0.47% 1.78%

Hartford Mortgage Securities HLS Fund Sub-Account 1.25% .06% 0.48% 1.79%
</TABLE>

(1) The actual Annual Maintenance Fee is a $30.00 fee. The Annual
Maintenance Fee has been reflected using a method intended to show the
"average" impact of the Annual Maintenance Fee. In the table, the Annual
Maintenance Fee is approximately a 0.06% annual charge.

(2) The figure that appears in the "Annual Total Fund Charges" column
illustrates the sum of the management fees and other expenses that the funds
charge. The figures reflect any fees that may have been waived by the funds'
investment advisers. The figures are as of December 31, 1999. For more
information, see the funds' prospectuses in the back of this book.

Can I take out any of my money?

/ / You may withdraw all or part of the amounts you have invested at any time
before we start making payments to you.

<PAGE>

/ / Each year you may withdraw up to 10% of your payments without having to pay
a sales charge.

You may have to pay tax on the money you take out and, if you take money out
before you are 59 1/2 you may have to pay a tax penalty.

Will we pay a Death Benefit?

There is a Death Benefit if you, your joint owner or your annuitant (the person
on whose life this annuity is based), dies before we begin to make payments to
you. The death benefit will be determined as of the date we receive acceptable
proof of death and will be the greater of:

- - The total payments you have made to us minus any amounts you have taken
out, or
- - The total value of your annuity, or
- - Your maximum anniversary value, which is the highest value your annuity
reached on any annuity anniversary date up to age 80, reduced by any
subsequent withdrawals and increased by any subsequent payments.

What payment options are available?

When it comes time for us to pay you, you may choose one of the following
annuity payment options, or receive a lump sum:

- Life Annuity where we make scheduled payments to you for the rest of
your life.

Payments under this option stop upon the death of the annuitant, even if the
annuitant dies after one payment.

- Life Annuity with 120, 180 or 240 Monthly Payments Certain where we
make payments to you for your life but you are at least guaranteed
payments for 120, 180 or 240 months, whichever you select. If the
annuitant dies before the end of the period selected, we will continue
to make payments to your beneficiary until the end of the period
selected.
- Joint and Last Survivor Annuity where we make payments during the
lifetime of you and another designated individual and then throughout
the remaining lifetime of the survivor.
- Payments for a Designated Period where we make payments for a
specified time between 5 and 30 years. If the annuitant dies before
the end of the specified time, we pay the beneficiary the present
value of the annuity in one lump sum or continue making the payments
to the beneficiary. You may terminate this option after payments have
started.

You must begin to take payments before the annuitant's 90th birthday or earlier
in some states. If you do not tell us what payment option you want before that
time, we will pay you under the Payment of a Designated Period option for 5
years from the annuitant's 90th birthday.

<PAGE>

About Us

Servus Life Insurance
Company

Servus Life Insurance Company ("Servus Life") is a stock life insurance
company engaged in the business of writing life insurance in all states of
the United States and the District of Columbia. Servus Life was originally
incorporated under the laws of Connecticut on September 16, 1963. Its
offices are located in Simsbury, Connecticut; however, its mailing address is
P.O. Box 2999, Hartford, CT 06104-2999. On December 22, 1999, Servus Life
changed its name from Royal Life Insurance Company of America to Servus Life
Insurance Company. Servus Life is a wholly owned subsidiary of Hartford Life
Insurance Company. Servus Life is ultimately controlled by Hartford Financial
Services Group, Inc., one of the largest financial service providers in the
United States.

Separate Account

The Separate Account was established on September 1, 1998. It is the
Separate Account in which Servus Life sets aside and invests the assets
attributable to variable annuity Contracts, including the Contracts sold
under this Prospectus. Separate Account assets are held by Servus Life under a
safekeeping arrangement. Although the Separate Account is an integral part of
Servus Life, it is registered as a unit investment trust under the Investment
Company Act of 1940. This registration does not, however, involve Commission
supervision of the management or the investment practices or policies of the
Separate Account or Servus Life. The Separate Account meets the definition of
"separate account" under federal securities law.

Under Connecticut law, the assets of the Separate Account attributable
to the Contracts offered under this Prospectus are held for the benefit of
the owners of, and the persons entitled to payments under, those Contracts.
Income, gains, and losses, whether or not realized, from assets allocated to
the Separate Account, are, in accordance with the Contracts, credited to or
charged against the Separate Account. Also, the assets in the Separate
Account are not chargeable with liabilities arising out of any other business
Servus Life may conduct. Contract Values allocated to the Separate Account is
not affected by the rate of return of Servus Life's General Account, nor by the
investment performance of any of Servus Life's other separate accounts. The
Separate Account may be subject to liabilities arising from a Sub-Account of
the Separate Account whose assets are attributable to other variable annuity
Contracts offered by the Separate Account which are not described in this
Prospectus. However, all obligations arising under the Contracts are general
corporate obligations of Servus Life.

Servus Life does not guarantee the investment results of the Separate
Accounts or any of the underlying investment options. There is no assurance
that the value of a Contract during the years prior to retirement or the
aggregate amount of the Variable Annuity payments will equal the total of
Premium Payments made under the Contract. Since each underlying Fund has
different investment objectives, each is subject to different risks. These
risks are more fully described in the accompanying Funds' prospectus.

The Funds

HL Investment Advisors, LLC ("HL Advisors") serves as the investment
adviser to each of the Funds. The Hartford Investment Management Company
("HIMCO") serves as sub-investment advisor and provides day to day investment
services.

<PAGE>

Each Fund, except for the Hartford High Yield HLS Fund, is a separate
Maryland corporation registered with the Securities and Exchange Commission
as an open-end management investment company. The Hartford High Yield HLS
Fund is a diversified series of Hartford Series Fund, Inc., a Maryland
corporation, also registered with the Securities and Exchange Commission as
an open-end management investment company. The shares of each Fund have been
divided into Class IA and Class IB. Only Class IA shares are available in this
annuity.

We do not guarantee the investment results of any of the underlying
Funds. Since each underlying Fund has different investment objectives, each
is subject to different risks. These risks and the Funds' expenses are more
fully described in the accompanying Funds' prospectus and Statement of
Additional Information, which may be ordered from us. The Funds' prospectus
should be read in conjunction with this Prospectus before investing.

The Funds may not be available in all states.

The investment goals of each of the Funds are as follows:

Hartford Bond HLS Fund

Seeks maximum current income consistent with preservation of capital by
investing primarily in investment grade fixed-income securities. Up to 20% of
the total assets of this Fund may be invested in debt securities rated in the
highest category below investment grade ("Ba" by Moody's Investor Services,
Inc. or "BB" by Standard & Poor's) or, if unrated, are determined to be of
comparable quality by the Fund's investment adviser. Securities rated below
investment grade are commonly referred to as "high yield-high risk
securities" or "junk bonds." For more information concerning the risks
associated with investing in such securities, please refer to the section in
the accompanying prospectus for the Funds entitled "Hartford Bond HLS Fund,
Inc. - Investment Policies." Sub-advised by HIMCO.

Hartford High Yield HLS Fund

Seeks high current income by investing in non-investment grade
fixed-income securities. Growth of capital is a secondary objective.
Securities rated below investment grade are commonly referred to as "high
yield-high risk securities" or "junk bonds." For more information concerning
the risks associated with investing in such securities, please refer to the
section in the accompanying prospectus for the Funds entitled "Hartford High
Yield HLS Fund." Sub-advised by HIMCO.

Hartford Index HLS Fund

<PAGE>

Seeks to provide investment results that approximate the price and yield
performance of publicly-traded common stocks in the aggregate, as represented by
the Standard & Poor's 500 Composite Stock Price Index.* Sub-advised by HIMCO.

Hartford Money Market HLS Fund

Seeks maximum current income consistent with liquidity and preservation of
capital. Sub-advised by HIMCO.

Hartford Mortgage Securities HLS Fund

Seeks maximum current income consistent with safety of principal and
maintenance of liquidity by investing primarily in mortgage-related securities.
Sub-advised by HIMCO.

* Standard & Poor's-Registered Trademark-," "S&P-Registered Trademark-," "S&P
500-Registered Trademark-," "Standard & Poor's 500," and "500" are
trademarks of The McGraw-Hill Companies, Inc. and have been licensed for
use by Hartford. The Index Fund is not sponsored, endorsed, sold or
promoted by Standard & Poor's and Standard & Poor's makes no representation
regarding the advisability of investing in the Index Fund.

<PAGE>

Voting Rights - We are the legal owners of all Fund shares held in the Separate
Account and we have the right to vote at the Fund's shareholder meetings. To
the extent required by federal securities laws or regulations, we will:
- - Notify you of any Fund shareholders' meeting if the shares held for your
Contract may be voted.
- - Send proxy materials and a form of instructions that you can use to tell us
how to vote the Fund shares held for your Contract.
- - Arrange for the handling and tallying of proxies received from Contract
Owners.
- - Vote all Fund shares attributable to your Contract according to
instructions received from you. and
- - Vote all Fund shares for which no voting instructions are received in the
same proportion as shares for which instructions have been received.

If any federal securities laws or regulations, or their present interpretation,
change to permit us to vote Fund shares on our own, we may decide to do so. You
may attend any Shareholder Meeting at which shares held for your Contract may be
voted. After we begin to make payments to you, the number of votes you have
will decrease.

Substitutions, Additions, or Deletions of Investments - We reserve the right,
subject to any applicable law, to make certain changes to the investment
options offered under your Contract. We may, in our sole discretion,
establish new Funds. New Funds will be made available to existing Contract
Owners as we determine appropriate. We may also close one or more Funds to
additional Payments or transfers from existing Sub-Accounts.

We reserve the right to eliminate the shares of any of the Funds for any reason
and to substitute shares of another registered investment company for the shares
of any Fund already purchased or to be purchased in the future by the Separate
Account. To the extent required by the 1940 Act, substitutions of shares
attributable to your interest in a Fund will not be made until we have the
approval of the Commission and we have notified you of the change.

In the event of any substitution or change, We may, by appropriate endorsement,
make such changes in the Contract as may be necessary or appropriate to reflect
such substitution or change. If we decide that it is in the best interest of
Contract Owners, the Separate Account may be operated as a management company
under the 1940 Act or any other form permitted by law, may be de-registered
under the 1940 Act in the event such registration is no longer required, or may
be combined with one or more other separate accounts.

Administrative Services -- Hartford has entered into agreements with the
investment advisers or distributors of many of the Funds. Under the terms of
these agreements, Hartford provides administrative services and the Funds pay
a fee to Hartford that is usually based on an annual percentage of the average
daily net assets of the Funds. These agreements may be different for each
Fund or each Fund family.

The Fixed Account

THAT PORTION OF THE CONTRACT RELATING TO THE FIXED ACCOUNT IS NOT
REGISTERED UNDER THE SECURITIES ACT OF 1933 ("1933 ACT") AND THE FIXED ACCOUNT
IS NOT REGISTERED AS AN INVESTMENT COMPANY UNDER THE INVESTMENT COMPANY ACT OF
1940 ("1940 ACT"). ACCORDINGLY, NEITHER THE FIXED ACCOUNT NOR ANY INTERESTS
THEREIN ARE SUBJECT TO THE PROVISIONS OR RESTRICTIONS OF THE 1933 ACT OR THE
1940 ACT, AND THE DISCLOSURE REGARDING THE FIXED ACCOUNT HAS NOT BEEN REVIEWED
BY THE STAFF OF THE SECURITIES AND EXCHANGE COMMISSION. THE FOLLOWING DISCLOSURE
ABOUT THE FIXED ACCOUNT MAY BE SUBJECT TO CERTAIN GENERALLY APPLICABLE
PROVISIONS OF THE FEDERAL SECURITIES LAWS REGARDING THE ACCURACY AND
COMPLETENESS OF DISCLOSURE.

<PAGE>

Premium Payments and Contract Values allocated to the Fixed Account
become a part of the general assets of Servus Life. Servus Life invests the
assets of the General Account in accordance with applicable law governing the
investments of Insurance Company General Accounts.

Currently, Servus Life guarantees that it will credit interest at a rate
of not less than 3% per year, compounded annually, to amounts allocated to
the Fixed Account under the Contracts. However, Servus Life reserves the
right to change the rate according to state insurance law. Servus Life may
credit interest at a rate in excess of 3% per year. There is no specific
formula for the determination of excess interest credits. Some of the factors
that Servus Life may consider in determining whether to credit excess
interest to amounts allocated to the Fixed Account and the amount thereof,
are general economic trends, rates of return currently available and
anticipated on Servus Life's investments, regulatory and tax requirements and
competitive factors. ANY INTEREST CREDITED TO AMOUNTS ALLOCATED TO THE FIXED
ACCOUNT IN EXCESS OF 3% PER YEAR WILL BE DETERMINED IN THE SOLE DISCRETION OF
SERVUS LIFE. THE OWNER ASSUMES THE RISK THAT INTEREST CREDITED TO FIXED
ACCOUNT ALLOCATIONS MAY NOT EXCEED THE MINIMUM GUARANTEE OF 3% FOR ANY GIVEN
YEAR.

From time to time, Servus Life may credit increased interest rates to you under
certain programs established at the discretion of Servus Life.

Performance Related Information

The Separate Account may advertise certain performance related information
concerning its Sub-Accounts. Performance information about a Sub-Account is
based on the Sub-Account's past performance only and is no indication of future
performance.

All of the Sub-Accounts may include total return in advertisements or other
sales material.

When a Sub-Account advertises its standardized total return, it will be
calculated to a date not earlier than the effective date of the Separate
Account. This figure will usually be calculated for one year, five years, and
ten years or some other relevant period if the Separate Account has not been in
existence for one, five or ten years. Total return is measured by comparing the
value of an investment in the Sub-Account at the beginning of the relevant
period to the value of the investment at the end of the period.

In addition to the standardized total return, the Sub-Account may advertise
non-standardized total returns that pre-date the inception of the Separate
Account. This figure will usually be calculated for one year, five years,
and ten years or other relevant period if the Separate Account has not been
in existence for one, five or ten years. This non-standardized total return
is measured in the same manner as the standardized total return described
above, except that the Annual Maintenance Fee is not deducted. Therefore,
this non-standardized total return for a Sub-Account is higher than
standardized total return for a Sub-Account.

<PAGE>

These non-standardized returns must be accompanied by standardized total
returns. Certain Sub-Accounts, if applicable, may advertise yield in addition
to total return. The yield will be computed in the following manner: The net
investment income per unit earned during a recent one month period is divided
by the unit value on the last day of the period. This figure reflects the
recurring charges at the Separate Account level including the Annual
Maintenance Fee.

The Money Market Fund Sub-Account may advertise yield and effective yield. The
yield of the Money Market Fund Sub-Account is based upon the income earned by
the Sub-Account over a 7-day period and then annualized, i.e. the income earned
in the period is assumed to be earned every 7 days over a 52-week period and
stated as a percentage of the investment. Effective yield is calculated
similarly but when annualized, the income earned by the investment is assumed to
be reinvested in Sub-Account units and thus compounded in the course of a
52-week period. Yield and effective yield reflect the recurring charges at the
Separate Account level including the Annual Maintenance Fee.

Servus Life may provide information on various topics to Contract Owners and
prospective Contract Owners in advertising, sales literature or other materials.
These topics may include the relationship between sectors of the economy and the
economy as a whole and its effect on various securities markets, investment
strategies and techniques (such as value investing, dollar cost averaging and
asset allocation), the advantages and disadvantages of investing in
tax-advantaged and taxable instruments, customer profiles and hypothetical
purchase scenarios, financial management and tax and retirement planning, and
other investment alternatives, including comparisons between the Contracts and
the characteristics of and market for such alternatives.

YOUR ANNUITY

The Contracts are individual tax-deferred Variable Annuity Contracts
designed for retirement planning purposes and may be purchased by any
individual, including any trustee or custodian for a retirement plan qualified
under Sections 401(a) or 403(a) of the Code; annuity purchase plans adopted by
public school systems and certain tax-exempt organizations according to Section
403(b) of the Code; Individual Retirement Annuities adopted according to Section
408 of the Code; employee pension plans established for employees by a state, a
political subdivision of a state, or an agency or instrumentality of either a
state or a political subdivision of a state, and certain eligible deferred
compensation plans as defined in Section 457 of the Code ("Qualified
Contracts"). The maximum issue age for the Contract is 85 years old.

If you are purchasing the Contract for use in an IRA or other qualified
retirement plan, you should consider other features of the Contract besides tax
deferral, since any investment vehicle used within an IRA or other qualified
plan receives tax deferred treatment under the Code.

<PAGE>

Payments

Generally, the minimum initial Premium Payment is $1,000; the minimum
subsequent payment is $500, if you are in the InvestEase program the minimum
subsequent payment is $50. Certain plans may make smaller periodic payments.
Each Premium Payment may be split among the various Sub-Accounts and/or the
Fixed Account subject to minimum amounts then in effect.

Refund Rights - If you are not satisfied with your purchase, you may
cancel the Contract by returning it within ten days (or longer in some
states) after you receive it. A written request for cancellation must
accompany the Contract. In such event, Servus Life will, without deduction
for any charges normally assessed thereunder, pay you an amount equal to the
Contract Value on the date of receipt of the request for cancellation. You
bear the investment risk during the period prior to Servus Life's receipt of
request for cancellation. Servus Life will refund the premium paid only for
individual retirement annuities (if returned within seven days of receipt)
and in those states where required by law.

Crediting and Valuation - The balance of the initial Premium Payment
remaining after the deduction of any applicable Premium Tax is credited to
your Contract within two business days of receipt of a properly completed
application or an order to purchase a Contract and the initial Premium
Payment by Servus Life at its Administrative Office. It will be credited to
the Sub-Account(s) and/or the Fixed Account in accordance with your election.
If the application or other information is incomplete when received, the
balance of the initial Premium Payment, after deduction of any applicable
Premium Tax, will be credited to the Sub-Account(s) or the Fixed Account
within five business days of receipt. If the initial Premium Payment is not
credited within five business days, the Premium Payment will be immediately
returned unless you have been informed of the delay and request that the
Premium Payment not be returned.

The number of Accumulation Units in each Sub-Account to be credited to a
Contract will be determined by dividing the portion of the Premium Payment being
credited to each Sub-Account by the value of an Accumulation Unit in that
Sub-Account on that date.

Subsequent Premium Payments are priced on the Valuation Day received by
Servus Life in its Administrative Office.

Contract Value

The value of the Sub-Account investments under your Contract at any time
prior to the commencement of annuity payments can be determined by multiplying
the total number of Accumulation Units credited to your Contract in each
Sub-Account by the then current Accumulation Unit values for the applicable
Sub-Account. The value of the Fixed Account under your Contract will be the
amount allocated to the Fixed Account plus interest credited.

You will be advised at least semiannually of the number of Accumulation
Units credited to each Sub-Account, the current Accumulation Unit values, the
Fixed Account value, and the total value of your Contract.

Accumulation Unit Values - The Accumulation Unit value for each Sub-Account
will vary to reflect the investment experience of the applicable Fund and will
be determined on each Valuation Day by multiplying the Accumulation Unit value
of the particular Sub-Account on the preceding Valuation Day by a "Net
Investment Factor" for that Sub-Account for the Valuation Period then ended. The
"Net Investment Factor" for each of the Sub-Accounts is equal to (a) the net
asset value per share of the

<PAGE>

corresponding Fund at the end of the Valuation Period (plus the per share amount
of any dividends or capital gains distributed by that Fund if the ex-dividend
date occurs in the Valuation Period then ended) divided by the net asset value
per share of the corresponding Fund at the beginning of the Valuation Period,
(b) minus the mortality and expense risk charge and the administration charge
described below. You should refer to the prospectus for each of the Funds which
accompanies this Prospectus for a description of how the assets of each Fund are
valued since each determination has a direct bearing on the Accumulation Unit
value of the Sub-Account and therefore the value of a Contract. The Accumulation
Unit Value is affected by the performance of the underlying Fund(s), expenses
and deduction of the charges described in this Prospectus.

Valuation of Fund Shares - The shares of the Fund are valued at net asset
value on each Valuation Day. A complete description of the valuation method used
in valuing Fund shares may be found in the accompanying Funds' prospectus.

Valuation of the Fixed Account - Servus Life will determine the value of
the Fixed Account by crediting interest to amounts allocated to the Fixed
Account.

Transfers

You may transfer the values of your Sub-Account allocations from one or
more Sub-Accounts to another free of charge. However, Servus Life reserves
the right to limit the number of transfers to twelve (12) per Contract Year,
with no two (2) transfers occurring on consecutive Valuation Days. Transfers
by telephone may be made by You or by the attorney-in-fact pursuant to a
power of attorney. Telephone transfers may not be permitted by some states.

The policy of Servus Life and its agents and affiliates is that they
will not be responsible for losses resulting from acting upon telephone
requests reasonably believed to be genuine. Servus Life will employ
reasonable procedures to confirm that instructions communicated by telephone
are genuine. The procedures Servus Life follows for transactions initiated by
telephone include requirements that callers provide certain information for
identification purposes. All transfer instructions by telephone are tape
recorded.

Servus Life may permit the Contract Owner to pre-authorize transfers
among Sub-Accounts and between Sub-Accounts and the Fixed Account under
certain circumstances. Transfers between the Sub-Accounts may be made both
before and after Annuity payments commence (limited to once a quarter)
provided that the minimum allocation to any Sub-Account may not be less than
$500. No minimum balance is required in any Sub-Account.

It is the responsibility of the Contract Owner to verify the accuracy of
all confirmations of transfers and to promptly advise Servus Life of any
inaccuracies within 30 days of receipt of the confirmation. Servus Life will
send the Contract Owner a confirmation of the transfer within five days from
the date of any instruction.

Transfers from the Fixed Account into a Sub-Account may be made at any
time during the Contract Year. The maximum amount which may be transferred
from the Fixed Account during any Contract Year is the greater of 30% of the
Fixed Account balance as of the last Contract Anniversary or the greatest
amount of any prior transfer from the Fixed Account. If Servus Life permits
pre-authorized transfers from the Fixed Account to the Sub-Accounts, this
restriction is inapplicable. Also, if any

<PAGE>

interest rate is renewed at a rate of at least one percentage point less than
the previous rate, the Contract Owner may elect to transfer up to 100% of the
funds receiving the reduced rate within 60 days of notification of the
interest rate decrease. Generally, transfers may not be made from any
Sub-Account into the Fixed Account for the six-month period following any
transfer from the Fixed Account into one or more of the Sub-Accounts. Servus
Life reserves the right to modify the limitations on transfers from the Fixed
Account and to defer transfers from the Fixed Account for up to six months
from the date of request.

Subject to the exceptions set forth in the following two paragraphs, the
right to reallocate Contract Values is subject to modification if Servus Life
determines, in its sole opinion, that the exercise of that right by one or
more Contract Owners is, or would be, to the disadvantage of other Contract
Owners. Any modification could be applied to transfers to or from some or all
of the Sub-Accounts and the Fixed Account and could include, but not be
limited to, the requirement of a minimum time period between each transfer,
not accepting transfer requests of an agent acting under a power of attorney
on behalf of more than one Contract Owner, or limiting the dollar amount that
may be transferred between the Sub-Accounts and the Fixed Account by Contract
Owners at any one time. Such restrictions may be applied in any manner
reasonably designed to prevent any use of the transfer right which is
considered by Servus Life to be to the disadvantage of other Contract Owners.

For Contracts issued in the State of New York, the reservation of rights
set forth in the preceding paragraph is limited to (i) requiring up to a maximum
of 10 Valuation Days between each transfer: (ii) limiting the amount to be
transferred on any one Valuation Day to no more than $2 million; and (iii) upon
30 days prior written notice, to only accepting transfer instructions from You
and not from Your representative, agent or person acting under a power of
attorney for You.

Currently, and with respect to Contracts issued in all states, the only
restriction in effect is that Servus Life will not accept instructions from
agents acting under a power of attorney of multiple Contract Owners whose
accounts aggregate more than $2 million, unless the agent has entered into a
third party transfer services agreement with Servus Life.

Charges

Contingent Deferred Sales Charges ("Sales Charges")

Purpose of Sales Charges - Sales Charges cover expenses relating to the
sale and distribution of the Contracts, including commissions paid to
distributing organizations and its sales personnel, the cost of preparing
sales literature and other promotional activities. If these charges are not
sufficient to cover sales and distribution expenses, Servus Life will pay
them from its general assets, including surplus. Surplus might include
profits resulting from unused mortality and expense risk charges.

Assessment of Sales Charges - There is no deduction for sales expenses from
Premium Payments when made, however, a Sales Charge may be assessed against
Premium Payments when surrendered. The length of time from receipt of a Premium
Payment to the time of surrender determines the percentage of the Sales Charge.
Premium payments are deemed to be surrendered in the order in which they were
received.

During the first seven years from each Premium Payment, a Sales Charge will
be assessed against the surrender of Premium Payments. During this time, all
surrenders in excess of the Annual
<PAGE>

Withdrawal Amount will be first from Premium Payments and then from earnings.
The Annual Withdrawal Amount is first from earnings and then from Premium
Payments. After the seventh Contract Year, all surrenders will first be taken
from earnings and then from Premium Payments and a Sales Charge will not be
assessed against the surrender of earnings. If an amount equal to all earnings
has been surrendered, a Sales Charge will not be assessed against Premium
Payments received more than seven years prior to surrender, but will be assessed
against Premium Payments received less than seven years prior to surrender. For
additional information, see "Federal Tax Considerations."

Upon receipt of a request for a full surrender, Servus Life will assess any
applicable Sales Charge against the surrender proceeds representing the lesser
of: (1) aggregate Premium Payments not previously withdrawn or (2) the Contract
Value, less the Annual Withdrawal Amount available at the time of the full
surrender, less the Annual Maintenance Fee, if applicable. Taking the Annual
Withdrawal Amount prior to the full surrender may, depending upon the amount of
investment gain experienced, reduce the amount of any Sales Charge paid.

The Sales Charge is a percentage of the amount surrendered (not to exceed
the aggregate amount of the Premium Payments made) and equals:

<TABLE>
<CAPTION>
Charge Length of time from
Premium Payment
(Number of Years)
<S> <C>
6% 1
6% 2
5% 3
5% 4
4% 5
3% 6
2% 7
0% 8 or more
</TABLE>

Payments Not Subject to Sales Charges

Annual Withdrawal Amount - During the first seven years from each Premium
Payment, on a non-cumulative basis, You may make a partial surrender of Contract
Values of up to 10% of the aggregate Premium Payments, as determined on the date
of the requested surrender, without the application of the Sales Charge. After
the seventh year from each Premium Payment, also on a non-cumulative basis, You
may make a partial surrender of 10% of Premium Payments made during the seven
years prior to the surrender and 100% of the Contract Value less the Premium
Payments made during the seven years prior to the surrender.

Extended Withdrawal Privilege - This privilege allows Annuitants who attain
age 70 1/2 with a Contract held under an Individual Retirement Account or 403(b)
plan to surrender an amount equal to the required minimum distribution for the
stated Contract without incurring a Sales Charge or not subject to a Sales
Charge.

Waivers of Sales Charges
<PAGE>

Death of the Annuitant or Contract Owner or Payments Under an Annuity
Option - No Sales Charge otherwise applicable will be assessed in the event of
death of the Annuitant, death of the Contract Owner or if payments are made
under an Annuity option (other than a surrender out of Annuity Option 4)
provided for under the Contract.

Other Plans or Programs - Certain plans or programs established by
Servus Life from time to time may have different surrender privileges.

Mortality and Expense Risk Charge

For assuming these risks under the Contracts, Servus Life will make a
daily charge at the rate of 1.25% per annum against all Contract Values held
in the Sub-Accounts during the life of the Contract (estimated at .90% for
mortality and .35% for expense). Although Variable Annuity payments made
under the Contracts will vary in accordance with the investment performance
of the underlying Fund shares held in the Sub-Account(s), the payments will
not be affected by (a) Servus Life's actual mortality experience among
Annuitants before or after the Annuity Commencement Date or (b) Servus Life's
actual expenses, if greater than the deductions provided for in the Contracts
because of the expense and mortality undertakings by Servus Life.

There are two types of mortality undertakings: those made during the
accumulation or deferral phase and those made during the annuity payout
phase. The mortality undertaking made by Servus Life in the accumulation
phase is that Servus Life may experience a loss resulting from the assumption
of the mortality risk relative to the guaranteed death benefit in event of
the death of an Annuitant or Contract Owner before commencement of Annuity
payments, in periods of declining value or in periods where the contingent
deferred sales charges would have been applicable. The mortality
undertakings provided by Servus Life during the annuity payout phase are to
make monthly Annuity payments (determined in accordance with the 1983a
Individual Annuity Mortality Table and other provisions contained in the
Contract) to Annuitants regardless of how long an Annuitant may live, and
regardless of how long all Annuitants as a group may live. Servus Life also
assumes the liability for payment of a minimum death benefit under the
Contract. These mortality undertakings are based on Servus Life's
determination of expected mortality rates among all Annuitants. If actual
experience among Annuitants during the Annuity payment period deviates from
Servus Life's actuarial determination of expected mortality rates among
Annuitants because, as a group, their longevity is longer than anticipated,
Servus Life must provide amounts from its general funds to fulfill its
contractual obligations. Servus Life will bear the loss in such a situation.

During the accumulation phase, Servus Life also provides an expense
undertaking. Servus Life assumes the risk that the contingent deferred sales
charges and the Annual Maintenance Fee for maintaining the Contracts prior to
the Annuity Commencement Date may be insufficient to cover the actual cost of
providing such items.

Annual Maintenance Fee

Each year, on each Contract Anniversary on or before the Annuity
Commencement Date, Servus Life will deduct an Annual Maintenance Fee, if
applicable, from Contract Values to reimburse it for expenses relating to the
maintenance of the Contract, the Fixed Account, and the Sub-Account(s)
thereunder. If during a Contract Year the Contract is surrendered for its
full value, Servus Life will deduct the Annual

<PAGE>

Maintenance Fee at the time of such surrender. The fee is a flat fee that will
be due in the full amount regardless of the time of the Contract Year that
Contract Values are surrendered. The Annual Maintenance Fee is $30.00 per
Contract Year for Contracts with less than $50,000 Contract Value on the
Contract Anniversary. Fees will be deducted on a pro rata basis according to
the value in each Sub-Account and the Fixed Account under a Contract.

Premium Taxes

Charges are also deducted for premium tax, if applicable, imposed by
state or other governmental entity. Certain states impose a premium tax,
currently ranging up to 3.5%. Some states assess the tax at the time purchase
payments are made; others assess the tax at the time of annuitization. Servus
Life will pay Premium Taxes at the time imposed under applicable law. At its
sole discretion, Servus Life may deduct Premium Taxes at the time Servus Life
pays such taxes to the applicable taxing authorities, at the time the
Contract is surrendered, at the time a death benefit is paid, or at the time
the Contract annuitizes.

Fund Charges

The Separate Account purchases shares of The Funds at net asset value.
The net asset value of the Fund shares reflects investment advisory fees and
administrative expenses already deducted from the assets of The Funds. These
charges are described in the Funds' prospectuses accompanying this Prospectus.

Exceptions to Charges Under the Contract

Servus Life may offer, at its discretion, reduced fees and charges including,
but not limited to, the contingent deferred sales charges, the mortality and
expense risk charge and the maintenance fee for certain sales (including
employer sponsored savings plans) under circumstances which may result in
savings of certain costs and expenses. Reductions in these fees and charges
will not be unfairly discriminatory against any Contract Owner.

Death Benefits

The Contract provides that, in the event the Annuitant dies before the
selected Annuity Commencement Date, the Contingent Annuitant will become the
Annuitant. If (1) the Annuitant dies before the Annuity Commencement Date and
either (a) there is no designated Contingent Annuitant or (b) the Contingent
Annuitant predeceases the Annuitant, or (2) if any Contract Owner dies before
the Annuity Commencement Date, the Beneficiary as determined under the
Contract Control Provisions, will receive the Death Benefit as determined on
the date of receipt of Due Proof of Death by Servus Life in its
Administrative Office. With regard to Joint Contract Owners, at the first
death of a joint Contract Owner prior to the Annuity Commencement Date, the
Beneficiary will be the surviving Contract Owner notwithstanding that the
beneficiary designation may be different.

Guaranteed Death Benefit - If the Annuitant dies before the Annuity
Commencement Date and there is no designated Contingent Annuitant surviving,
or if the Contract Owner dies before the Annuity Commencement Date, the
Beneficiary will receive the greatest of (a) the Contract Value determined as
of the day written proof of death of such person is received by Servus Life,
or (b) 100% of the total Premium Payments made to such Contract, reduced by
the dollar amount of any partial surrenders since the issue date, or (c) the
Maximum Anniversary Value immediately preceding the date of death. The
Maximum Anniversary Value is equal to the greatest Anniversary Value attained
from the following:

As of the date of receipt of Due Proof of Death, Servus Life will
calculate an Anniversary Value for each Contract Anniversary prior to the
deceased's attained age 81. The Anniversary Value is equal to the Contract
Value on a Contract Anniversary, increased by the dollar amount of any
premium payments made since that anniversary and reduced by the dollar amount
of any partial surrenders

<PAGE>

since that anniversary.

If the Annuitant or You, as applicable, die after the Annuity Commencement
Date, then the Death Benefit will equal the present value of any remaining
payments under the elected Annuity Option. In computing such present value
for the portion of such remaining payments attributable to the Separate
Account, Servus Life will assume a net investment rate of 5.0% per year.

Payment of Death Benefit - The calculated Death Benefit will remain
invested in the Separate Account in accordance with the allocation
instructions given by the Contract Owner until the proceeds are paid or
Servus Life receives new instructions from the Beneficiary. During the time
period between Servus Life's receipt of written notification of Due Proof of
Death and Servus Life's receipt of the completed settlement instructions, the
calculated Death Benefit will remain invested in the Sub-Account(s)
previously elected by the Contract Owner and will be subject to market
fluctuations. The Death Benefit may be taken in one sum, payable within
seven days after the date Due Proof of Death is received, or under any of the
settlement options then being offered by Servus Life provided, however, that:
(a) in the event of the death of any Contract Owner prior to the Annuity
Commencement Date, the entire interest in the Contract will be distributed
within five years after the death of the Contract Owner and (b) in the event
of the death of any Contract Owner or Annuitant which occurs on or after the
Annuity Commencement Date, any remaining interest in the Contract will be
paid at least as rapidly as under the method of distribution in effect at the
time of death, or, if the benefit is payable over a period not extending
beyond the life expectancy of the Beneficiary or over the life of the
Beneficiary, such distribution must commence within one year of the date of
death. The proceeds due on the death may be applied to provide variable
payments, fixed payments, or a combination of variable and fixed payments.
However, in the event of the Contract Owner's death where the sole
Beneficiary is the spouse of the Contract Owner and the Annuitant or
Contingent Annuitant is living, such spouse may elect, in lieu of receiving
the death benefit, to be treated as the Contract Owner. The Contract Value
and the Maximum Anniversary Value of the Contract will be unaffected by
treating the spouse as the Contract Owner.

If the Contract is owned by a corporation or other non-individual, the
Death Benefit payable upon the death of the Annuitant prior to the Annuity
Commencement Date will be payable only as one sum or under the same settlement
options and in the same manner as if an individual Contract Owner died on the
date of the Annuitant's death.

There may be postponement in the payment of Death Benefits whenever (a) the
New York Stock Exchange is closed, except for holidays or weekends, or trading
on the New York Stock Exchange is restricted as determined by the Commission;
(b) the Commission permits postponement and so orders; or (c) the Commission
determines that an emergency exists making valuation of the amounts or disposal
of securities not reasonably practicable.

Annuity Proceeds Settlement Option

Proceeds from the Death Benefit may be left with Servus Life for a
period not to exceed five years from the date of the Contract Owner's death
prior to the Annuity Commencement Date. These proceeds will remain in the
Sub-Account(s) to which they were allocated at the time of death unless the
Beneficiary elects to reallocate them. Full or partial withdrawals may be
made at any time. In the event of withdrawals, the remaining value will equal
the Contract Value of the proceeds left with Servus Life, minus any
withdrawals.

Withdrawals

Full Surrenders - At any time prior to the Annuity Commencement Date (and
after the Annuity Commencement Date with respect to values applied to Annuity
Option 4 or the Annuity Proceeds Settlement Option), the Contract Owner has the
right to terminate the Contract. In such event, the Termination Value of the
Contract may be taken in the form of a lump sum cash settlement.
<PAGE>

Under any of the Annuity options excluding Annuity Option 4 and the
Annuity Proceeds Settlement Option, no surrenders are permitted after Annuity
payments commence. Partial surrenders are permitted out of Annuity Option 4
(subject to any contingent deferred sales charges), but check with your tax
advisor because there may be adverse tax consequences. Full or partial
withdrawals may be made from the Annuity Proceeds Settlement Option at any
time and contingent deferred sales charges will not be applied.

The Termination Value of the Contract is equal to the Contract Value less
any applicable Premium Taxes, the Annual Maintenance Fee if applicable and any
applicable contingent deferred sales charges. The Termination Value may be more
or less than the amount of the Premium Payments made to a Contract.

Partial Surrenders - You may make a partial surrender of Contract
Values at any time prior to the Annuity Commencement Date so long as the
amount surrendered is at least equal to the minimum amount rules then in
effect. Additionally, if the remaining Contract Value following a surrender
is less than $500 ($1,000 in New York), Servus Life will terminate the
Contract and pay the Termination Value. For Contracts issued in Texas, there
is an additional requirement that the Contract will not be terminated when
the remaining Contract Value after a surrender is less than $500 unless there
were no Premium Payments made during the previous two Contract Years.

In requesting a partial withdrawal you should specify the Sub-Account(s)
and/or the Fixed Account from which the partial withdrawal is to be taken.
Otherwise, such withdrawal and any applicable contingent deferred sales charges
will be effected on a pro rata basis according to the value in the Fixed Account
and each Sub-Account under a Contract.

Servus Life may permit You to pre-authorize partial surrenders subject
to certain limitations then in effect.

Payment of Surrender Benefits - Payment on any request for a full or
partial surrender from the Sub-Accounts will be made as soon as possible and
in any event no later than seven days after the written request is received
by Servus Life at its Administrative Office. Servus Life may defer payment of
any amounts from the Fixed Account for up to six months from the date of the
request for surrender. If Servus Life defers payment for more than 30 days
(10 working days in New York), Servus Life will pay interest of at least 3%
per annum on the amount deferred.

There may be postponement in the payment of Surrender Benefits whenever (a)
the New York Stock Exchange is closed, except for holidays or weekends, or
trading on the New York Stock Exchange is restricted as determined by the
Commission; (b) the Commission permits postponement and so orders; or (c) the
Commission determines that an emergency exists making valuation of the amounts
or disposal of securities not reasonably practicable.

CERTAIN QUALIFIED CONTRACT SURRENDERS - THERE ARE CERTAIN RESTRICTIONS ON
SECTION 403(b) TAX SHELTERED ANNUITIES. AS OF DECEMBER 31, 1988, ALL SECTION
403(b) ANNUITIES HAVE LIMITS ON FULL AND PARTIAL SURRENDERS. CONTRIBUTIONS TO
THE CONTRACT MADE AFTER DECEMBER 31, 1988 AND ANY INCREASES IN CASH VALUE AFTER
DECEMBER 31, 1988 MAY NOT BE DISTRIBUTED UNLESS THE CONTRACT OWNER/EMPLOYEE HAS
A) ATTAINED AGE 59 1/2, B) SEPARATED FROM SERVICE, C) DIED, D) BECOME DISABLED
OR E) EXPERIENCED FINANCIAL HARDSHIP. (CASH VALUE INCREASES MAY NOT BE
DISTRIBUTED PRIOR TO AGE 59 1/2 FOR HARDSHIPS.)
<PAGE>

DISTRIBUTIONS PRIOR TO AGE 59 1/2 DUE TO FINANCIAL HARDSHIP OR SEPARATION
FROM SERVICE MAY STILL BE SUBJECT TO A PENALTY TAX OF 10%.

SERVUS LIFE WILL NOT ASSUME ANY RESPONSIBILITY IN DETERMINING WHETHER A
WITHDRAWAL IS PERMISSIBLE, WITH OR WITHOUT TAX PENALTY, IN ANY PARTICULAR
SITUATION; OR IN MONITORING WITHDRAWAL REQUESTS REGARDING PRE OR POST JANUARY
1, 1989 ACCOUNT VALUES.

ANY SUCH FULL OR PARTIAL SURRENDER DESCRIBED ABOVE MAY AFFECT THE
CONTINUING TAX QUALIFIED STATUS OF SOME CONTRACTS OR PLANS AND MAY RESULT IN
ADVERSE TAX CONSEQUENCES TO THE CONTRACT OWNER. THE CONTRACT OWNER, THEREFORE,
SHOULD CONSULT WITH HIS TAX ADVISER BEFORE UNDERTAKING ANY SUCH SURRENDER. (SEE
"FEDERAL TAX CONSIDERATIONS.")

Settlement Provisions

You select an Annuity Commencement Date and an Annuity option which may be
on a fixed or variable basis, or a combination thereof. The Annuity Commencement
Date will not be deferred beyond the Annuitant's 90th birthday. The Annuity
Commencement Date and/or the Annuity option may be changed from time to time,
but any change must be at least 30 days prior to the date on which Annuity
payments are scheduled to begin. The Contract allows You to change the
Sub-Accounts on which variable payments are based after payments have commenced
once every three months. Any Fixed Annuity allocation may not be changed.

The Contract contains the four Annuity payment options and the Annuity
Proceeds Settlement Option. Annuity Options 2, 4, and the Annuity Proceeds
Settlement Option are available to Qualified Contracts only if the guaranteed
payment period is less than the life expectancy of the Annuitant at the time
the option becomes effective. Such life expectancy shall be computed on the
basis of the mortality table prescribed by the IRS, or if none is prescribed,
the mortality table then in use by Servus Life. With respect to Non-Qualified
Contracts, if you do not elect otherwise, payments in most states will
automatically begin at the Annuitant's age 90 (with the exception of states
that do not allow deferral past age 85) under Annuity Option 2 with 120
monthly payments certain. For Qualified Contracts and Contracts issued in
Texas, if you do not elect otherwise, payments will begin automatically at
the Annuitant's age 90 under Annuity Option 1 to provide a life Annuity.
After the Annuity Commencement Date, the Annuity option elected may not be
changed.

Option 1 - Life Annuity

A life Annuity is an Annuity payable during the lifetime of the Annuitant
and terminating with the last payment due preceding the death of the Annuitant.
This option offers the largest payment amount of any of the life Annuity options
since there is no guarantee of a minimum number of payments nor a
<PAGE>
26

provision for a Death Benefit payable to a Beneficiary.

It would be possible under this option for an Annuitant to receive only one
Annuity payment if he died prior to the due date of the second Annuity payment,
two if he died before the date of the third Annuity payment, etc.

Option 2 - Life Annuity with 120, 180 or 240 Monthly Payments Certain

This Annuity option is an Annuity payable monthly during the lifetime of an
Annuitant with the provision that payments will be made for a minimum of 120,
180 or 240 months, as elected. If, at the death of the Annuitant, payments have
been made for less than the minimum elected number of months, then the present
value as of the date of the Annuitant's death, of any remaining guaranteed
payments will be paid in one sum to the Beneficiary or Beneficiaries designated
unless other provisions have been made and approved by Servus Life.

Option 3 - Joint and Last Survivor Annuity

An Annuity payable monthly during the joint lifetime of the Annuitant
and a designated second person, and thereafter during the remaining lifetime
of the survivor, ceasing with the last payment prior to the death of the
survivor. Based on the options currently offered by Servus Life, the
Annuitant may elect that the payment to the survivor be less than the payment
made during the joint lifetime of the Annuitant and a designated second
person.

It would be possible under this option for an Annuitant and designated
second person to receive only one payment in the event of the common or
simultaneous death of the parties prior to the due date for the second payment
and so on.

Option 4 - Payments for a Designated Period

An amount payable monthly for the number of years selected which may be
from 5 to 30 years. Partial surrenders are permitted out of Annuity Option 4
(subject to any contingent deferred sales charges), but check with your tax
advisor because there may be adverse tax consequences.

In the event of the Annuitant's death prior to the end of the designated
period, the present value as of the date of the Annuitant's death, of any
remaining guaranteed payments will be paid in one sum to the Beneficiary or
Beneficiaries designated unless other provisions have been made and approved by
Servus Life.

Annuity Option 4 is an option that does not involve life contingencies and
thus no mortality guarantee. Charges made for the mortality undertaking under
the Contracts thus provide no real benefit to You.
<PAGE>
27

Servus Life may offer other annuity or settlement options from time to
time.

Variable and Fixed Annuity Payments - When an Annuity is effected under
a Contract, unless otherwise specified, Contract Values (less applicable
Premium Taxes) held in the Sub-Accounts will be applied to provide a Variable
Annuity based on the pro rata amount in the various Sub-Accounts. Fixed
Account Contract Values will be applied to provide a Fixed Annuity. YOU
SHOULD CONSIDER THE QUESTION OF ALLOCATION OF CONTRACT VALUES (LESS
APPLICABLE PREMIUM TAXES) AMONG SUB-ACCOUNTS OF THE SEPARATE ACCOUNT AND THE
GENERAL ACCOUNT OF SERVUS LIFE TO MAKE CERTAIN THAT ANNUITY PAYMENTS ARE
BASED ON THE INVESTMENT ALTERNATIVE BEST SUITED TO YOUR NEEDS FOR RETIREMENT.

The minimum monthly annuity payment is $50.00. No election may be made
which results in a first payment of less than $50.00. If at any time annuity
payments are or become less than $50.00, Servus Life has the right to change
the frequency of payment to intervals that will result in payments of at
least $50.00. For New York Contracts, the minimum monthly annuity payment is
$20.00.

When annuity payments are to commence, the value of the Contract is
determined as the sum of (1) the value of the Fixed Account no earlier than the
close of business on the fifth Valuation Day preceding the date the first
annuity payment is due plus (2) the product of (a) the value of the Accumulation
Unit of each Sub-Account on that same day and (b) the number of Accumulation
Units credited to each Sub-Account as of the date the annuity is to commence.

All annuity payments under any option will occur the same day of the month
as the Annuity Commencement Date, based on the payment frequency selected by
You. Available payment frequencies include monthly, quarterly, semi-annual and
annual. The payment frequency may not be changed after payout has begun.

Variable Annuity - The Contract contains tables indicating the minimum
dollar amount of the first monthly payment under the optional variable forms of
annuity for each $1,000 of value of a Sub-Account under a Contract. The first
monthly payment varies according to the form and type of Variable Payment
Annuity selected. The Contract contains Variable Payment Annuity tables derived
from the 1983a Individual Annuity Mortality Table with ages set back one year
and with an assumed investment rate ("A.I.R.") of 5% per annum. The total first
monthly Variable Annuity payment is determined by multiplying the value
(expressed in thousands of dollars) of a Sub-Account (less any applicable
Premium Taxes) by the amount of the first monthly payment per $1,000 of value
obtained from the tables in the Contracts.

The amount of the first monthly Variable Annuity payment is divided by the
value of an Annuity Unit for the appropriate Sub-Account no earlier than the
close of business on the fifth Valuation Day preceding the day on which the
payment is due in order to determine the number of Annuity Units represented by
the first payment. This number of Annuity Units remains fixed during the Annuity
payment period, and in each subsequent month the dollar amount of the Variable
Annuity payment is determined by multiplying this fixed number of Annuity Units
by the then current Annuity Unit value.

The value of the Annuity Unit for each Sub-Account in the Separate Account
for any day is
<PAGE>
28

determined by multiplying the value for the preceding day by the product of
(1) the net investment factor for the day for which the Annuity Unit value is
being calculated, and (2) a factor to neutralize the assumed investment rate of
5% per annum. The Annuity Unit value used in calculating the amount of the
Variable Annuity payments will be based on an Annuity Unit value determined as
of the close of business on a day no earlier than the fifth Valuation Day
preceding the date of the Annuity payment.

LEVEL VARIABLE ANNUITY PAYMENTS WOULD BE PRODUCED IF THE INVESTMENT RATE
REMAINED CONSTANT AND EQUAL TO THE A.I.R. IN FACT, PAYMENTS WILL VARY UP OR DOWN
AS THE INVESTMENT RATE VARIES UP OR DOWN FROM THE A.I.R.

Fixed Annuity - Fixed Annuity payments are determined at annuitization
by multiplying the Contract Value (less applicable Premium Taxes) by a rate
to be determined by Servus Life which is no less than the rate specified in
the Fixed Payment Annuity tables in the Contract. The annuity payment will
remain level for the duration of the annuity.

Other Information

Assignment - Ownership of a Contract described herein is generally
assignable. However, if the Contracts are issued pursuant to some form of
Qualified Plan, it is possible that the ownership of the Contracts may not be
transferred or assigned depending on the type of tax-qualified retirement plan
involved. An assignment of a Non-Qualified Contract may subject the Contract
values or assignment proceeds to income taxes and certain penalty taxes.

Contract Modification - The Annuitant may not be changed; however, the
Contingent Annuitant may be changed at any time prior to the Annuity
Commencement Date by written notice to Servus Life.

Servus Life reserves the right to modify the Contract, but only if such
modification: (i) is necessary to make the Contract or the Separate Account
comply with any law or regulation issued by a governmental agency to which
Servus Life is subject; or (ii) is necessary to assure continued
qualification of the Contract under the Code or other federal or state laws
relating to retirement annuities or annuity Contracts; or (iii) is necessary
to reflect a change in the operation of the Separate Account or the
Sub-Account(s) or (iv) provides additional Separate Account options or (v)
withdraws Separate Account options. In the event of any such modification
Servus Life will provide notice to You or to the payee(s) during the annuity
period. Servus Life may also make appropriate endorsement in the Contract to
reflect such modification.

<PAGE> 29

FEDERAL TAX CONSIDERATIONS

What are some of the federal tax consequences which affect these Contracts?

A. GENERAL

Since federal tax law is complex, the tax consequences of purchasing this
contract will vary depending on your situation. You may need tax or legal advice
to help you determine whether purchasing this contract is right for you.

Our general discussion of the tax treatment of this contract is based on our
understanding of federal income tax laws as they are currently interpreted. A
detailed description of all federal income tax consequences regarding the
purchase of this contract cannot be made in the prospectus. We also do not
discuss state, municipal or other tax laws that may apply to this contract. For
detailed information, you should consult with a qualified tax adviser familiar
with your situation.

B. TAXATION OF SERVUS LIFE AND THE SEPARATE ACCOUNT

The Separate Account is taxed as part of Servus Life which is taxed as a life
insurance company in accordance with the Internal Revenue Code of 1986, as
amended (the "Code"). Accordingly, the Separate Account will not be taxed as
a "regulated investment company" under subchapter M of Chapter 1 of the Code.
Investment income and any realized capital gains on the assets of the
Separate Account are reinvested and are taken into account in determining the
value of the Accumulation and Annuity Units (See "Value of Accumulation
Units"). As a result, such investment income and realized capital gains are
automatically applied to increase reserves under the Contract.

No taxes are due on interest, dividends and short-term or long-term capital
gains earned by the Separate Account with respect to Qualified or Non-Qualified
Contracts.

C. TAXATION OF ANNUITIES -- GENERAL PROVISIONS AFFECTING PURCHASERS OTHER THAN
QUALIFIED RETIREMENT PLANS

Section 72 of the Code governs the taxation of annuities in general.

1. NON-NATURAL PERSONS, CORPORATIONS, ETC. Code Section 72 contains provisions
for contract owners which are not natural persons. Non-natural persons
include corporations, trusts, limited liability companies, partnerships and
other types of legal entities. The tax rules for contracts owned by
non-natural persons are different from the rules for contracts owned by
individuals. For example, the annual net increase in the value of the
contract is currently includable in the gross
<PAGE>
30

income of a non-natural person, unless the non-natural person holds the
contract as an agent for a natural person. There are additional exceptions
from current inclusion for:

- certain annuities held by structured settlement companies,

- certain annuities held by an employer with respect to a terminated
qualified retirement plan and

- certain immediate annuities.

A non-natural person which is a tax-exempt entity for federal tax purposes
will not be subject to income tax as a result of this provision.

If the contract owner is a non-natural person, the primary annuitant is
treated as the contract owner in applying mandatory distribution rules.
These rules require that certain distributions be made upon the death of
the contract owner. A change in the primary annuitant is also treated as
the death of the contract owner.

2. OTHER CONTRACT OWNERS (NATURAL PERSONS). A Contract Owner is not taxed on
increases in the value of the Contract until an amount is received or
deemed received, e.g., in the form of a lump sum payment (full or partial
value of a Contract) or as Annuity payments under the settlement option
elected.

The provisions of Section 72 of the Code concerning distributions are
summarized briefly below. Also summarized are special rules affecting
distributions from Contracts obtained in a tax-free exchange for other
annuity contracts or life insurance contracts which were purchased prior to
August 14, 1982.

a. DISTRIBUTIONS PRIOR TO THE ANNUITY COMMENCEMENT DATE.

i. Total premium payments less amounts received which were not
includable in gross income equal the "investment in the contract"
under Section 72 of the Code.

ii. To the extent that the value of the Contract (ignoring any
surrender charges except on a full surrender) exceeds the
"investment in the contract," such excess constitutes the "income
on the contract."

iii. Any amount received or deemed received prior to the Annuity
Commencement Date (e.g., upon a partial surrender) is deemed to
come first from any such "income on the contract" and then from
"investment in
<PAGE>
31

the contract," and for these purposes such "income on the
contract" shall be computed by reference to any aggregation rule
in subparagraph 2.c. below. As a result, any such amount
received or deemed received (1) shall be includable in gross
income to the extent that such amount does not exceed any such
"income on the contract," and (2) shall not be includable in
gross income to the extent that such amount does exceed any such
"income on the contract." If at the time that any amount is
received or deemed received there is no "income on the contract"
(e.g., because the gross value of the Contract does not exceed
the "investment in the contract" and no aggregation rule
applies), then such amount received or deemed received will not
be includable in gross income, and will simply reduce the
"investment in the contract."

iv. The receipt of any amount as a loan under the Contract or the
assignment or pledge of any portion of the value of the Contract
shall be treated as an amount received for purposes of this
subparagraph a. and the next subparagraph b.

v. In general, the transfer of the Contract, without full and
adequate consideration, will be treated as an amount received for
purposes of this subparagraph a. and the next subparagraph b.
This transfer rule does not apply, however, to certain transfers
of property between spouses or incident to divorce.

b. DISTRIBUTIONS AFTER ANNUITY COMMENCEMENT DATE. Annuity payments made
periodically after the Annuity Commencement Date are includable in
gross income to the extent the payments exceed the amount determined
by the application of the ratio of the "investment in the contract" to
the total amount of the payments to be made after the Annuity
Commencement Date (the "exclusion ratio").

i. When the total of amounts excluded from income by application of
the exclusion ratio is equal to the investment in the contract as
of the Annuity Commencement Date, any additional payments
(including surrenders) will be entirely includable in gross
income.

ii. If the annuity payments cease by reason of the death of the
Annuitant and, as of the date of death, the amount of annuity
payments excluded from gross income by the exclusion ratio does
not exceed the investment in the contract as of the Annuity
Commencement Date, then the remaining portion of unrecovered
investment shall be allowed as a deduction for the last taxable
year of the Annuitant.

iii. Generally, nonperiodic amounts received or deemed received after
the Annuity Commencement Date are not entitled to any exclusion
ratio and
<PAGE>
32

shall be fully includable in gross income. However, upon a full
surrender after such date, only the excess of the amount received
(after any surrender charge) over the remaining "investment in
the contract" shall be includable in gross income (except to the
extent that the aggregation rule referred to in the next
subparagraph c. may apply).

c. AGGREGATION OF TWO OR MORE ANNUITY CONTRACTS. Contracts issued after
October 21, 1988 by the same insurer (or affiliated insurer) to the
same Contract Owner within the same calendar year (other than certain
contracts held in connection with a tax-qualified retirement
arrangement) will be treated as one annuity Contract for the purpose
of determining the taxation of distributions prior to the Annuity
Commencement Date. An annuity contract received in a tax-free
exchange for another annuity contract or life insurance contract may
be treated as a new Contract for this purpose. Servus Life believes
that for any annuity subject to such aggregation, the values under the
Contracts and the investment in the contracts will be added together
to determine the taxation under subparagraph 2.a., above, of amounts
received or deemed received prior to the Annuity Commencement Date.
Withdrawals will first be treated as withdrawals of income until all
of the income from all such Contracts is withdrawn. As of the date of
this Prospectus, there are no regulations interpreting this provision.

d. 10% PENALTY TAX -- APPLICABLE TO CERTAIN WITHDRAWALS AND ANNUITY
PAYMENTS.

i. If any amount is received or deemed received on the Contract
(before or after the Annuity Commencement Date), the Code applies
a penalty tax equal to ten percent of the portion of the amount
includable in gross income, unless an exception applies.

ii. The 10% penalty tax will not apply to the following distributions
(exceptions vary based upon the precise plan involved):

1. Distributions made on or after the date the recipient has
attained the age of 59 1/2.

2. Distributions made on or after the death of the holder or
where the holder is not an individual, the death of the
primary annuitant.

3. Distributions attributable to a recipient's becoming
disabled.

4. A distribution that is part of a scheduled series of
substantially equal periodic payments (not less frequently
than annually) for the life (or life expectancy) of the
recipient (or the joint lives or life expectancies of the
recipient and the recipient's designated Beneficiary).
<PAGE>
33

5. Distributions of amounts which are allocable to the
"investment in the contract" prior to August 14, 1982 (see
next subparagraph e.).

e. SPECIAL PROVISIONS AFFECTING CONTRACTS OBTAINED THROUGH A
TAX-FREE EXCHANGE OF OTHER ANNUITY OR LIFE INSURANCE
CONTRACTS PURCHASED PRIOR TO AUGUST 14, 1982. If the
Contract was obtained by a tax-free exchange of a life
insurance or annuity Contract purchased prior to August 14,
1982, then any amount received or deemed received prior to
the Annuity Commencement Date shall be deemed to come (1)
first from the amount of the "investment in the contract"
prior to August 14, 1982 ("pre-8/14/82 investment") carried
over from the prior Contract, (2) then from the portion of
the "income on the contract" (carried over to, as well as
accumulating in, the successor Contract) that is
attributable to such pre-8/14/82 investment, (3) then from
the remaining "income on the contract" and (4) last from the
remaining "investment in the contract." As a result, to
the extent that such amount received or deemed received does
not exceed such pre-8/14/82 investment, such amount is not
includable in gross income. In addition, to the extent
that such amount received or deemed received does not exceed
the sum of (a) such pre-8/14/82 investment and (b) the
"income on the contract" attributable thereto, such amount
is not subject to the 10% penalty tax. In all other
respects, amounts received or deemed received from such
post-exchange Contracts are generally subject to the rules
described in this subparagraph 3.

f. REQUIRED DISTRIBUTIONS

i. Death of Contract Owner or Primary Annuitant

Subject to the alternative election or spouse beneficiary
provisions in ii or iii below:

1. If any Contract Owner dies on or after the Annuity
Commencement Date and before the entire interest in the
Contract has been distributed, the remaining portion of
such interest shall be distributed at least as rapidly
as under the method of distribution being used as of
the date of such death;

2. If any Contract Owner dies before the Annuity
Commencement Date, the entire interest in the Contract
will be distributed within 5 years after such death;
and

3. If the Contract Owner is not an individual, then for
purposes of 1. or 2. above, the primary annuitant under
the Contract shall be treated as the Contract Owner,
and any change in the primary annuitant shall be
treated as the death of the Contract Owner. The
primary annuitant is the individual, the events in the
life of whom are of primary importance
<PAGE>
34

in affecting the timing or amount of the payout under
the Contract.

ii. Alternative Election to Satisfy Distribution Requirements

If any portion of the interest of a Contract Owner
described in i. above is payable to or for the benefit of a
designated beneficiary, such beneficiary may elect to have
the portion distributed over a period that does not extend
beyond the life or life expectancy of the beneficiary.
Distribution must begin within a year of the Contract
Owner's death.

iii. Spouse Beneficiary

If any portion of the interest of a Contract Owner is
payable to or for the benefit of his or her spouse, and the
Annuitant or Contingent Annuitant is living, such spouse
shall be treated as the Contract Owner of such portion for
purposes of section i. above. This spousal continuation
shall apply only once for this contract.

3. DIVERSIFICATION REQUIREMENTS. The Code requires that investments supporting
your Contract be adequately diversified. Code Section 817 provides that a
variable annuity contract will not be treated as an annuity contract for
any period during which the investments made by the separate account or
underlying fund are not adequately diversified. If a contract is not
treated as an annuity contract, the contract owner will be subject to
income tax on annual increases in cash value.

The Treasury Department's diversification regulations require, among other
things, that:

- no more than 55% of the value of the total assets of the segregated
asset account underlying a variable contract is represented by any one
investment,

- no more than 70% is represented by any two investments,

- no more than 80% is represented by any three investments and

- no more than 90% is represented by any four investments.

In determining whether the diversification standards are met, all
securities of the same issuer, all interests in the same real property
project, and all interests in the same commodity are each treated as a
single investment. In the case of government securities, each government
agency or instrumentality is treated as a separate issuer.

A separate account must be in compliance with the diversification standards
on the last day of each calendar quarter or within 30 days after the
quarter ends. If an insurance company inadvertently fails to meet the
diversification
<PAGE>
35

requirements, the company may still comply within a reasonable period and
avoid the taxation of contract income on an ongoing basis. However, either
the company or the contract owner must agree to pay the tax due for the
period during which the diversification requirements were not met.

We monitor the diversification of investments in the separate accounts and
test for diversification as required by the Code. We intend to administer
all contracts subject to the diversification requirements in a manner that
will maintain adequate diversification.

4. OWNERSHIP OF THE ASSETS IN THE SEPARATE ACCOUNT. In order for a variable
annuity contract to qualify for tax deferral, assets in the separate
accounts supporting the contract must be considered to be owned by the
insurance company and not by the contract owner. It is unclear under what
circumstances an investor is considered to have enough control over the
assets in the separate account to be considered the owner of the assets for
tax purposes.

The IRS has issued several rulings discussing investor control. These
rulings say that certain incidents of ownership by the contract owner, such
as the ability to select and control investments in a separate account,
will cause the contract owner to be treated as the owner of the assets for
tax purposes.

In its explanation of the diversification regulations, the Treasury
Department recognized that the temporary regulations "do not provide
guidance concerning the circumstances in which investor control of the
investments of a segregated asset account may cause the investor, rather
than the insurance company, to be treated as the owner of the assets in the
account." The explanation further indicates that "the temporary regulations
provide that in appropriate cases a segregated asset account may include
multiple sub-accounts, but do not specify the extent to which policyholders
may direct their investments to particular sub-accounts without being
treated as the owners of the underlying assets. Guidance on this and other
issues will be provided in regulations or revenue rulings under Section
817(d), relating to the definition of variable contract."

The final regulations issued under Section 817 did not provide guidance
regarding investor control, and as of the date of this prospectus, guidance
has yet to be issued. We do not know if additional guidance will be
issued. If guidance is issued, we do not know if it will have a
retroactive effect.

Due to the lack of specific guidance on investor control, there is some
uncertainty about when a contract owner is considered the owner of the
assets for tax purposes. We reserve the right to modify the contract, as
necessary, to prevent you from being considered the owner of assets in the
separate account.

D. FEDERAL INCOME TAX WITHHOLDING

Any portion of a distribution that is (or is deemed to be) current taxable
income to the Contract Owner will be subject to federal income tax
withholding and reporting under the Code. Generally, however, a Contract
Owner may elect not to have income taxes withheld or to have income taxes
withheld at a different rate by filing a completed election form with us.
Election forms will be provided at the time distributions are requested.

<PAGE>
36

E. GENERAL PROVISIONS AFFECTING QUALIFIED RETIREMENT PLANS

The Contract may be used for a number of qualified retirement plans. If the
Contract is being purchased with respect to some form of qualified retirement
plan, please refer to Appendix I for information relative to the types of plans
for which it may be used and the general explanation of the tax features of such
plans.

F. ANNUITY PURCHASES BY NONRESIDENT ALIENS AND FOREIGN CORPORATIONS

The discussion above provides general information regarding U.S. federal income
tax consequences to annuity purchasers that are U.S. citizens or residents.
Purchasers that are not U.S. citizens or residents will generally be subject to
U.S. federal income tax and withholding on annuity distributions at a 30% rate,
unless a lower treaty rate applies. In addition, purchasers may be subject to
state premium tax, other state and/or municipal taxes, and taxes that may be
imposed by the purchaser's country of citizenship or residence. Prospective
purchasers are advised to consult with a qualified tax adviser regarding U.S.,
state, and foreign taxation with respect to an annuity purchase.

G. GENERATION-SKIPPING TRANSFERS

Under certain circumstances, the Internal Revenue Code may impose a
"generation-skipping transfer tax" when all or part of an annuity is
transferred to, or a death benefit is paid to, an individual two or more
generations younger than the owner. Federal tax law may require us to deduct
the tax from your Contract, or from any applicable payment, and pay it
directly to the Internal Revenue Service.

<PAGE>
37

MISCELLANEOUS

How We Sell Our Annuity

Hartford Securities Distribution Company, Inc. ("HSD") serves as Principal
Underwriter for the securities issued with respect to the Separate Account. HSD
is a wholly owned subsidiary of Hartford Financial Services Group Inc. The
principal business address of HSD is the same as that of the Servus Life.

The securities will be sold by salesperson of HSD who represent Servus Life
as insurance and variable annuity agents and who are registered
representatives.

HSD is registered with the Commission under the Securities Exchange Act of
1934 as a Broker-Dealer and is a member of the National Association of
Securities Dealers, Inc.

Commissions will be paid by Servus Life and will not be more than 6% of
Premium Payments. From time to time, Servus Life may pay or permit other
promotional incentives, in cash or credit or other compensation.

Broker-dealers or financial institutions are compensated according to a
schedule set forth by HSD and any applicable rules or regulations for variable
insurance compensation. Compensation is generally based on premium payments
made by policyholders or contract owners. This compensation is usually paid
from the sales charges described in this Prospectus.

In addition, a broker-dealer or financial institution may also receive
additional compensation for, among other things, training, marketing or other
services provided. HSD, its affiliates or Servus Life may also make
compensation arrangements with certain broker-dealers or financial
institutions based on total sales by the broker-dealer or financial
institution of insurance products. These payments, which may be different for
different broker-dealers or financial institutions, will be made by HSD, its
affiliates or Servus Life out of their own assets and will not effect the
amounts paid by the policyholders or contract owners to purchase, hold or
surrender variable insurance products.

The Contract may be sold directly to certain individuals under certain
circumstances that do not involve payment of any sales compensation to a
registered representative. In such case, Servus Life will credit the Contract
with an additional 5.0% of the premium payment. This additional percentage of
premium payment in no way affects present or future charges, rights, benefits
or current values of other Contract Owners. The following class of
individuals are eligible for this feature: (1) current or retired officers,
directors, trustees and employees (and their families) of the ultimate parent
and affiliates of Servus Life; and (2) employees and registered
representatives (and their families) of registered broker-dealers (or
financial institutions affiliated therewith) that have a sales agreement with
Servus Life and its principal underwriter to sell the Contracts.

<PAGE>
38

Legal Matters and Experts

There are no material legal proceedings pending to which the Separate
Account is a party.

Counsel with respect to federal laws and regulations applicable to the
issue and sale of the Contracts and with respect to Connecticut law is Lynda
Godkin, Senior Vice President, General Counsel and Corporate Secretary,
Servus Life Life Insurance Company, P.O. Box 2999, Hartford, Connecticut
06104-2999.

The audited statutory financial statements included in this registration
statement, to the extent and for the periods indicated in their report, have
been audited by Arthur Andersen LLP, independent public accountants, and are
included herein in reliance upon the authority of said firm as experts in
giving said report. Reference is made to the report on the statutory
financial statements of Servus Life Insurance Company, as of and for the
years ended 1999 and 1998, which states the statutory financial statements
are presented in accordance with statutory accounting practices prescribed or
permitted by the National Association of Insurance Commissioners and the
State of Connecticut Insurance Department, and are not presented in
accordance with generally accepted accounting principles. The principal
business address of Arthur Andersen LLP is One Financial Plaza, Hartford,
Connecticut 06103

<PAGE>
39

ADDITIONAL INFORMATION

Inquiries will be answered by calling
your representative or by writing:

Servus Life Insurance Company
Attn: Investment Product Services
P.O. Box 5085
Hartford, Connecticut 06102-5085
Telephone: (800) 862-6668

<PAGE>
40

APPENDIX I

INFORMATION REGARDING TAX-QUALIFIED RETIREMENT PLANS

This summary does not attempt to provide more than general information about the
federal income tax rules associated with use of a Contract by a tax-qualified
retirement plan. Because of the complexity of the federal tax rules, owners,
participants and beneficiaries are encouraged to consult their own tax advisors
as to specific tax consequences.

The federal tax rules applicable to owners of Contracts under tax-qualified
retirement plans vary according to the type of plan as well as the terms and
conditions of the plan itself. Contract owners, plan participants and
beneficiaries are cautioned that the rights and benefits of any person may be
controlled by the terms and conditions of the tax-qualified retirement plan
itself, regardless of the terms and conditions of a Contract. We are not bound
by the terms and conditions of such plans to the extent such terms conflict with
a Contract, unless we specifically consent to be bound.

Some tax-qualified retirement plans are subject to distribution and other
requirements that are not incorporated into our administrative procedures.
Contract owners, participants and beneficiaries are responsible for determining
that contributions, distributions and other transactions comply with applicable
law. Tax penalties may apply to transactions with respect to tax-qualified
retirement plans if applicable federal income tax rules and restrictions are not
carefully observed.

We do not currently offer the Contracts in connection with all of the types of
tax-qualified retirement plans discussed below and may not offer the Contracts
for all types of tax-qualified retirement plans in the future.

1. TAX-QUALIFIED PENSION OR PROFIT-SHARING PLANS Eligible employers can
establish certain tax-qualified pension and profit-sharing plans under
section 401 of the Code. Rules under section 401(k) of the Code govern
certain "cash or deferred arrangements" under such plans. Rules under
section 408(k) govern "simplified employee pensions". Tax-qualified
pension and profit-sharing plans are subject to limitations on the amount
that may be contributed, the persons who may be eligible to participate and
the time when distributions must commence. Employers intending to use the
Contracts in connection with tax-qualified pension or profit-sharing plans
should seek competent tax and other legal advice.

2. TAX SHELTERED ANNUITIES UNDER SECTION 403(b) Public schools and certain
types of charitable, educational and scientific organizations, as specified
in section 501(c)(3) of the Code, can purchase tax-sheltered annuity
contracts for their employees. Tax-deferred contributions can be made to
tax-sheltered annuity contracts under section 403(b) of the Code, subject
to certain limitations. Generally, such contributions may not exceed the
lesser of $10,500 (indexed) or 20% of the employee's "includable
compensation" for such employee's most recent full year of employment,
subject to other adjustments. Special provisions under the Code may allow
some employees to elect a different overall limitation.

<PAGE>
41

Tax-sheltered annuity programs under section 403(b) are subject to a
PROHIBITION AGAINST DISTRIBUTIONS FROM THE CONTRACT ATTRIBUTABLE TO
CONTRIBUTIONS MADE PURSUANT TO A SALARY REDUCTION AGREEMENT, unless such
distribution is made:

- after the participating employee attains age 59 1/2;

- upon separation from service;

- upon death or disability; or

- in the case of hardship (and in the case of hardship, any income
attributable to such contributions may not be distributed).

Generally, the above restrictions do not apply to distributions
attributable to cash values or other amounts held under a section 403(b)
contract as of December 31, 1988.

3. DEFERRED COMPENSATION PLANS UNDER SECTION 457 A governmental employer or a
tax-exempt employer other than a governmental unit can establish a Deferred
Compensation Plan under section 457 of the Code. For these purposes, a
"governmental employer" is a State, a political subdivision of a State, or
an agency or an instrumentality of a State or political subdivision of a
State. Employees and independent contractors performing services for a
governmental or tax-exempt employer can elect to have contributions made to
a Deferred Compensation Plan of their employer in accordance with the
employer's plan and section 457 of the Code.

Deferred Compensation Plans that meet the requirements of section 457(b) of
the Code are called "eligible" Deferred Compensation Plans. Section 457(b)
limits the amount of contributions that can be made to an eligible Deferred
Compensation Plan on behalf of a participant. Generally, the limitation on
contributions is 33 1/3% of a participant's includable compensation
(typically 25% of gross compensation) or, for 2000, $8,000 (indexed),
whichever is less. The plan may provide for additional "catch-up"
contributions during the three taxable years ending before the year in
which the participant attains normal retirement age.

All of the assets and income of an eligible Deferred Compensation Plan of
a governmental employer must be held in trust for the exclusive benefit
of participants and their beneficiaries. For this purpose, custodial
accounts and certain annuity contracts are treated as trusts. The
requirement of a trust does not apply to amounts under a Deferred
Compensation Plan of a tax-exempt (non-governmental) employer. In
addition, the requirement of a trust does not apply to amounts under a
Deferred Compensation Plan of a governmental employer if the Deferred
Compensation Plan is not an eligible plan within the meaning of section
457(b) of the Code. In the
<PAGE>
42

absence of such a trust, amounts under the plan will be subject to the
claims of the employer's general creditors.

In general, distributions from an eligible Deferred Compensation Plan are
prohibited under section 457 of the Code unless made after the
participating employee:

- attains age 70 1/2,

- separates from service,

- dies, or

- suffers an unforeseeable financial emergency as defined in the
Code.

Under present federal tax law, amounts accumulated in a Deferred
Compensation Plan under section 457 of the Code cannot be transferred or
rolled over on a tax-deferred basis except for certain transfers to other
Deferred Compensation Plans under section 457 in limited cases.

4. INDIVIDUAL RETIREMENT ANNUITIES ("IRAS") UNDER SECTION 408

TRADITIONAL IRAS. Eligible individuals can establish individual retirement
programs under section 408 of the Code through the purchase of an IRA.
Section 408 imposes limits with respect to IRAs, including limits on the
amount that may be contributed to an IRA, the amount of such contributions
that may be deducted from taxable income, the persons who may be eligible
to contribute to an IRA, and the time when distributions commence from an
IRA. Distributions from certain tax-qualified retirement plans may be
"rolled-over" to an IRA on a tax-deferred basis.

SIMPLE IRAS. Eligible employees may establish SIMPLE IRAs in connection
with a SIMPLE IRA plan of an employer under section 408(p) of the Code.
Special rollover rules apply to SIMPLE IRAs. Amounts can be rolled over
from one SIMPLE IRA to another SIMPLE IRA. However, amounts can be rolled
over from a SIMPLE IRA to a Traditional IRA only after two years have
expired since the employee first commenced participation in the employer's
SIMPLE IRA plan. Amounts cannot be rolled over to a SIMPLE IRA from a
qualified plan or a Traditional IRA. Servus Life is a non-designated
financial institution for purposes of the SIMPLE IRA rules.

ROTH IRAS. Eligible individuals may establish Roth IRAs under section 408A
of the Code. Contributions to a Roth IRA are not deductible. Subject to
special limitations, a Traditional IRA may be converted into a Roth IRA or
a distribution from a Traditional IRA may be rolled over to a Roth IRA.
However, a conversion or a rollover from a Traditional IRA to a Roth IRA is
not excludable from gross income. If certain conditions are met, qualified
distributions from a Roth IRA are tax-free.

5. FEDERAL TAX PENALTIES AND WITHHOLDING Distributions from tax-qualified
retirement plans are generally taxed as ordinary income under section 72 of
the Code. Under
<PAGE>
43

these rules, a portion of each distribution may be excludable from income.
The excludable amount is the portion of the distribution that bears the
same ratio as the after-tax contributions bear to the expected return.

(a) PENALTY TAX ON EARLY DISTRIBUTIONS Section 72(t) of the Code imposes
an additional penalty tax equal to 10% of the taxable portion of a
distribution from certain tax-qualified retirement plans. However,
the 10% penalty tax does not apply to a distributions that is:

- Made on or after the date on which the employee reaches age 59
1/2;

- Made to a beneficiary (or to the estate of the employee) on or
after the death of the employee;

- Attributable to the employee's becoming disabled (as defined in
the Code);

- Part of a series of substantially equal periodic payments (not
less frequently than annually) made for the life (or life
expectancy) of the employee or the joint lives (or joint life
expectancies) of the employee and his or her designated
beneficiary;

- Except in the case of an IRA, made to an employee after
separation from service after reaching age 55; or

- Not greater than the amount allowable as a deduction to the
employee for eligible medical expenses during the taxable year.

In addition, the 10% penalty tax does not apply to a distribution from
an IRA that is:

- Made after separation from employment to an unemployed IRA owner
for health insurance premiums, if certain conditions are met;

- Not in excess of the amount of certain qualifying higher
education expenses, as defined by section 72(t)(7) of the Code;
or

- A qualified first-time homebuyer distribution meeting the
requirements specified at section 72(t)(8) of the Code.

If you are a participant in a SIMPLE IRA plan, you should be aware
that the 10% penalty tax is increased to 25% with respect to
non-exempt early distributions made from your SIMPLE IRA during the
first two years following the date you first commenced participation
in any SIMPLE IRA plan of your employer.

<PAGE>
44

(b) MINIMUM DISTRIBUTION PENALTY TAX If the amount distributed is less
than the minimum required distribution for the year, the Participant
is subject to a 50% penalty tax on the amount that was not properly
distributed.

An individual's interest in a tax-qualified retirement plan generally
must be distributed, or begin to be distributed, not later than the
Required Beginning Date. Generally, the Required Beginning Date is
April 1 of the calendar year following the later of:

- the calendar year in which the individual attains age 70 1/2; or

- the calendar year in which the individual retires from service
with the employer sponsoring the plan.

The Required Beginning Date for an individual who is a five (5)
percent owner (as defined in the Code), or who is the owner of an IRA,
is April 1 of the calendar year following the calendar year in which
the individual attains age 70 1/2.

The entire interest of the Participant must be distributed beginning
no later than the Required Beginning Date over:

- the life of the Participant or the lives of the Participant and
the Participant's designated beneficiary, or

- over a period not extending beyond the life expectancy of the
Participant or the joint life expectancy of the Participant and
the Participant's designated beneficiary.

Each annual distribution must equal or exceed a "minimum distribution
amount" which is determined by dividing the account balance by the
applicable life expectancy. This account balance is generally based
upon the account value as of the close of business on the last day of
the previous calendar year. In addition, minimum distribution
incidental benefit rules may require a larger annual distribution.

If an individual dies before reaching his or her Required Beginning
Date, the individual's entire interest must generally be
distributed within five years of the individual's death. However,
this rule will be deemed satisfied, if distributions begin before the
close of the calendar year following the individual's death to a
designated beneficiary and distribution is over the life of such
designated beneficiary (or over a period not extending beyond the life
expectancy of the beneficiary). If the beneficiary is the
individual's surviving spouse, distributions may be delayed until the
individual would have attained age 70 1/2.

If an individual dies after reaching his or her Required Beginning
Date or after distributions have commenced, the individual's interest
must generally be

<PAGE>
45

distributed at least as rapidly as under the method of distribution
in effect at the time of the individual's death.

(c) WITHHOLDING In general, regular wage withholding rules apply to
distributions from IRAs and plans described in section 457 of the
Code. Periodic distributions from other tax-qualified retirement
plans that are made for a specified period of 10 or more years or for
the life or life expectancy of the participant (or the joint lives or
life expectancies of the participant and beneficiary) are generally
subject to federal income tax withholding as if the recipient were
married claiming three exemptions. The recipient of periodic
distributions may generally elect not to have withholding apply or to
have income taxes withheld at a different rate by providing a
completed election form.

Mandatory federal income tax withholding at a flat rate of 20% will
generally apply to other distributions from such other tax-qualified
retirement plans unless such distributions are:

- the non-taxable portion of the distribution;

- required minimum distributions; or

- direct transfer distributions.

Direct transfer distributions are direct payments to an IRA or to
another eligible retirement plan under Code section 401(a)(31).

Certain states require withholding of state taxes when federal income tax
is withheld.

<PAGE>
46

TABLE OF CONTENTS
TO
STATEMENT OF ADDITIONAL INFORMATION

Section Page
- ------- ----
Description of Servus Life Insurance Company 3
Safekeeping of Assets 3
Independent Public Accountants 3
Distribution of Contracts 3
Calculation of Yield and Return 4
Performance Comparisons 6
Financial Statements 8

<PAGE>
47

This form must be completed for all tax-sheltered annuities.

SECTION 403(b)(11) ACKNOWLEDGMENT FORM

The Servus Life variable annuity Contract that you have recently purchased is
subject to certain restrictions imposed by the Tax Reform Act of 1986.
Contributions to the Contract after December 31, 1988 and any increases in
cash value after December 31, 1988 may not be distributed to you unless you
have:

a. Attained age 59 1/2,
b. Separated from service,
c. Died, or
d. Become disabled.

Distributions of post December 31, 1988 contributions (excluding any income
thereon) may also be made if you have experienced a financial hardship.

Also, there may be a 10% penalty tax for distributions made prior to age 59 1/2
because of financial hardship or separation from service.

Also, please be aware that your 403(b) Plan may also offer other financial
alternatives other than your variable annuity. Please refer to
your Plan.

Please complete the following and return to:

Servus Life Insurance Company
Investment Product Services
P.O. Box 5085
Hartford, Connecticut 06102-5085

- - - - - - - - - - - - - - - - - - - - - - - -

Name of You/Participant:
-------------------------------------------------------
Address:
-----------------------------------------------------------------------
City or Plan/School District:
--------------------------------------------------
Date:
--------------------------------------------------------------------------
Contract No:
-------------------------------------------------------------------
Signature:
---------------------------------------------------------------------

<PAGE>

- - - - - - - - - - - - - - - - - - - - - - - -

To Obtain a Statement of Additional Information, please complete the form below
and mail to:

Servus Life Insurance Company
Attn: Investment Product Services
P.O. Box 5085
Hartford, Connecticut 06102-5085

Please send a Statement of Additional Information to me at
the following address:

- ----------------------------------
Name

- ----------------------------------
Address

- ----------------------------------
City/State Zip Code

- - - - - - - - - - - - - - - - - - - - - - - -
<PAGE>

Part-B

<PAGE>

STATEMENT OF ADDITIONAL INFORMATION

SERVUS LIFE INSURANCE COMPANY
(FORMERLY ROYAL LIFE INSURANCE COMPANY OF AMERICA)
SEPARATE ACCOUNT ONE

This Statement of Additional Information is not a prospectus. The information
contained herein should be read in conjunction with the Prospectus.

To obtain a Prospectus, send a written request to Servus Life Insurance Company
Attn: Investment Product Services, P.O. Box 5085, Hartford, Connecticut
06102-5085.

Date of Prospectus: May 1, 2000

Date of Statement of Additional Information: May 1, 2000

<PAGE>

-2-

TABLE OF CONTENTS

SECTION PAGE
- ------- ----
<S> <C>
DESCRIPTION OF SERVUS LIFE INSURANCE COMPANY....................

SAFEKEEPING OF ASSETS ..........................................

INDEPENDENT PUBLIC ACCOUNTANTS .................................

DISTRIBUTION OF CONTRACTS.......................................

CALCULATION OF YIELD AND RETURN.................................

PERFORMANCE COMPARISONS.........................................

FINANCIAL STATEMENTS ...........................................
</TABLE>

<PAGE>

-3-

DESCRIPTION OF SERVUS LIFE INSURANCE COMPANY

Servus Life Insurance Company ("Servus Life") is a stock life insurance company
engaged in the business of writing life insurance in all states of the United
States and the District of Columbia. Servus Life was originally incorporated
under the laws of Connecticut on September 16, 1963. Its offices are located in
Simsbury, Connecticut; however, its mailing address is P.O. Box 2999, Hartford,
CT 06104-2999. On December 22, 1999, Servus Life changed its name from Royal
Life Insurance Company of America to Servus Life Insurance Company. Servus Life
is a wholly owned subsidiary of Hartford Life Insurance Company. Servus Life is
ultimately controlled by Hartford Financial Services Group, Inc., one of the
largest financial service providers in the United States.

SAFEKEEPING OF ASSETS

Title to the assets of the Separate Account is held by Servus Life. The assets
are kept physically segregated and are held separate and apart from Servus
Life's general corporate assets. Records are maintained of all purchases and
redemptions of Fund shares held in each of the Sub-Accounts.

INDEPENDENT PUBLIC ACCOUNTANTS

DISTRIBUTION OF CONTRACTS

Hartford Securities Distribution Company, Inc. ("HSD") serves as principal
underwriter for the securities issued with respect to the Separate Account and
will offer the Contracts on a continuous basis.

HSD is a wholly-owned subsidiary of Hartford Financial Services Group Inc. The
principal business address of HSD is the same as Servus Life.

<PAGE>

-4-

The securities will be sold by salespersons of HSD, who represent Servus Life as
insurance and Variable Annuity agents and who are registered representatives of
Broker-Dealers who have entered into distribution agreements with HSD.

HSD is registered with the Securities and Exchange Commission under the
Securities and Exchange Act of 1934 as a Broker-Dealer and is a member of the
National Association of Securities Dealers, Inc. ("NASD").

CALCULATION OF YIELD AND RETURN

YIELD AND EFFECTIVE YIELD OF A MONEY MARKET SUB-ACCOUNT. As summarized in the
Prospectus under the heading "Performance Related Information," the yield of a
Money Market Sub-Account for a seven day period (the "base period") will be
computed by determining the "net change in value" (calculated as set forth
below) of a hypothetical account having a balance of one accumulation unit of
the Sub-Account at the beginning of the period, subtracting a hypothetical
charge reflecting deductions from Contract Owner accounts, and dividing the
difference by the value of the account at the beginning of the base period to
obtain the base period return, and then multiplying the base period return by
365/7 with the resulting yield figure carried to the nearest hundredth of one
percent. Net changes in value of a hypothetical account will include net
investment income of the account (accrued daily dividends as declared by the
underlying funds, less daily expense charges of the account) for the period, but
will not include realized gains or losses or unrealized appreciation or
depreciation on the underlying fund shares.

The effective yield is calculated by compounding the base period return by
adding 1, raising the sum to a power equal to 365/7 and subtracting 1 from the
result, according to the following formula:
365/7
Effective Yield = [(Base Period Return + 1) ] - 1

A MONEY MARKET SUB-ACCOUNT'S YIELD AND EFFECTIVE YIELD WILL VARY IN RESPONSE TO
FLUCTUATIONS IN INTEREST RATES AND IN THE EXPENSES OF THE SUB-ACCOUNT. THE
CURRENT YIELD AND EFFECTIVE YIELD REFLECT RECURRING CHARGES ON THE SEPARATE
ACCOUNT LEVEL, INCLUDING THE MAXIMUM ANNUAL MAINTENANCE FEE.

YIELD AND EFFECTIVE YIELD FOR THE SEVEN DAY PERIOD ENDING
DECEMBER 31, 1999
<TABLE>
<CAPTION>

- -------------------------------------------------------------------------------

SUB-ACCOUNT YIELD EFFECTIVE YIELD
- -------------------------------------------------------------------------------
<S> <C> <C>
- -------------------------------------------------------------------------------
Hartford Money Market 4.09% 4.18%
- -------------------------------------------------------------------------------

<PAGE>

-5-

YIELD OF SUB-ACCOUNTS. As summarized in the Prospectus under the heading
"Performance Related Information," certain Sub-Accounts may advertise yield in
addition to total return. Yield will be computed by annualizing a recent month's
net investment income, divided by a Fund share's net asset value on the last
trading day of that month. Net changes in the value of a hypothetical account
will assume the change in the underlying mutual fund's "net asset value per
share" for the same period in addition to the daily expense charge assessed, at
the Sub-Account level for the respective period. The Sub-Accounts' yields will
vary from time to time depending upon market conditions and, the composition of
the underlying funds' portfolios. Yield should also be considered relative to
changes in the value of the Sub-Accounts' shares and to the relative risks
associated with the investment objectives and policies of the underlying Fund.

THE YIELD REFLECTS RECURRING CHARGES ON THE SEPARATE ACCOUNT LEVEL, INCLUDING
THE ANNUAL MAINTENANCE FEE.

Yield calculations of the Sub-Accounts used for illustration purposes reflect
the interest earned by the Sub-Accounts, less applicable asset charges assessed
against a Contract Owner's account over the base period. Yield quotations based
on a 30 day period were computed by dividing the dividends and interest earned
during the period by the maximum offering price per unit on the last day of the
period, according to the following formula:

Example:
6
Current Yield Formula for the Sub-Account 2[((A-B)/(CD) + 1) - 1]

Where A = Dividends and interest earned during the period.
B = Expenses accrued for the period (net of reimbursements).
C = The average daily number of units outstanding during the period
that were entitled to receive dividends.
D = The maximum offering price per unit on the last day of the
period.

YIELD QUOTATION BASED ON A 30 DAY PERIOD ENDED DECEMBER 31, 1999
<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------
SUB-ACCOUNT YIELD
- -------------------------------------------------------------------------------
<S> <C>
Hartford Bond HLS Fund 5.69%
- -------------------------------------------------------------------------------
Hartford High Yield HLS Fund 8.30%
- -------------------------------------------------------------------------------
Hartford Mortgage Securities HLS Fund 5.51%
- -------------------------------------------------------------------------------
</TABLE>

<PAGE>

-6-

At any time in the future, yields and total return may be higher or lower than
past yields and there can be no assurance that any historical results will
continue.

CALCULATION OF TOTAL RETURN. As summarized in the Prospectus under the heading
"Performance Related Information," total return is a measure of the change in
value of an investment in a Sub-Account over the period covered. The formula for
total return used herein includes three steps: (1) calculating the value of the
hypothetical initial investment of $1,000 as of the end of the period by
multiplying the total number of units owned at the end of the period by the unit
value per unit on the last trading day of the period; (2) assuming redemption at
the end of the period and deducting any applicable contingent deferred sales
charge and (3) dividing this account value for the hypothetical investor by the
initial $1,000 investment and annualizing the result for periods of less than
one year. Standardized total return will be calculated since the inception of
the Separate Account for one year, five years and ten years or some other
relevant periods if a Sub-Account has not been in existence for at least ten
years.

STANDARDIZED AVERAGE ANNUAL TOTAL RETURN FOR YEAR ENDED DECEMBER 31, 1999
<TABLE>
<CAPTION>

- --------------------------------------------------------------------------------------------------------------------
SINCE INCEPTION
INCEPTION DATE OF
OF SEPARATE SEPARATE
SUB-ACCOUNT ACCOUNT 1 YEAR 5 YEAR 10 YEAR ACCOUNT
- --------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Hartford Bond HLS Fund 9/1/98 -12.23% N/A N/A -9.76%
- --------------------------------------------------------------------------------------------------------------------
Hartford High Yield HLS Fund 10/1/98 -5.60% N/A N/A -4.06%
- --------------------------------------------------------------------------------------------------------------------
Hartford Index HLS Fund 9/1/98 10.00% N/A N/A 25.08%
- --------------------------------------------------------------------------------------------------------------------
Hartford Money Market HLS Fund 9/1/98 -5.41% N/A N/A -5.43%
- --------------------------------------------------------------------------------------------------------------------
Hartford Mortgage Securities 9/1/98 -8.74% N/A N/A -7.24%
HLS Fund
- --------------------------------------------------------------------------------------------------------------------
</TABLE>

In addition to the standardized total return, the Sub-Accounts may advertise a
non-standardized total return. This figure will usually be calculated since the
inception of the underlying fund for one year, five years, and ten years or
other periods. Non-standardized total return is measured in the same manner as
the standardized total return described above, except that the contingent
deferred sales charge and the

<PAGE>

-7-

Annual Maintenance Fee are not deducted. Therefore, non-standardized total
return for a Sub-Account is higher than standardized total return for a
Sub-Account.

NON-STANDARDIZED ANNUALIZED TOTAL RETURN THAT PRE-DATE
THE INCEPTION DATE OF THE SEPARATE ACCOUNT FOR YEAR ENDED
DECEMBER 31, 1999
<TABLE>
<CAPTION>

- --------------------------------------------------------------------------------------------------------------------
INCEPTION DATE SINCE INCEPTION
SUB-ACCOUNT OF FUND 1 YEAR 5 YEAR 10 YEAR OF FUND
- --------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Hartford Bond HLS Fund 8/31/77 -3.23% 6.34% 6.07% N/A
- --------------------------------------------------------------------------------------------------------------------
Hartford High Yield HLS Fund 10/1/98 3.40% N/A N/A 5.57%
- --------------------------------------------------------------------------------------------------------------------
Hartford Index HLS Fund 5/1/87 19.00% 26.23% 15.98% N/A
- --------------------------------------------------------------------------------------------------------------------
Hartford Money Market HLS Fund 6/30/80 3.59% 3.98% 3.80% N/A
- --------------------------------------------------------------------------------------------------------------------
Hartford Mortgage Securities 1/1/85 0.26% 6.25% 5.77% N/A
HLS Fund
- --------------------------------------------------------------------------------------------------------------------
</TABLE>

PERFORMANCE COMPARISONS

YIELD AND TOTAL RETURN. Each Sub-Account may from time to time include its total
return in advertisements or in information furnished to present or prospective
shareholders. Each Sub-Account may from time to time include its yield and total
return in advertisements or information furnished to present or prospective
shareholders. Each Sub-Account may from time to time include in advertisements
its total return (and yield in the case of certain Sub-Accounts) the ranking of
those performance figures relative to such figures for groups of other annuities
analyzed by Lipper Analytical Services and Morningstar, Inc. as having the same
investment objectives.

The total return and yield may also be used to compare the performance of the
Sub-Accounts against certain widely acknowledged outside standards or indices
for stock and bond market performance. The Standard & Poor's Composite Index of
500 Stocks (the "S&P 500") is a market value-weighted and unmanaged index
showing the changes in the aggregate market value of 500 stocks relative to the
base period

<PAGE>

-8-

1941-43. The S&P 500 is composed almost entirely of common stocks of companies
listed on the New York Stock Exchange, although the common stocks of a few
companies listed on the American Stock Exchange or traded over-the-counter are
included. The 500 companies represented include 400 industrial, 60
transportation and 40 financial services concerns. The S&P 500 represents about
80% of the market value of all issues traded on the New York Stock Exchange.

The NASDAQ-OTC Composite Price Index (The "NASDAQ Index") is a market
value-weighted and unmanaged index showing the changes in the aggregate market
value of approximately 3,500 stocks relative to the base measure of 100.00 on
February 5, 1971. The NASDAQ Index is composed entirely of common stocks of
companies traded over-the-counter and often through the National Association of
Securities Dealers Automated Quotations ("NASDAQ") system. Only those
over-the-counter stocks having only one market maker or traded on exchanges are
excluded.

The Morgan Stanley Capital International EAFE Index (the "EAFE Index") is an
unmanaged index, which includes over 1,000 companies representing the stock
markets of Europe, Australia, New Zealand, and the Far East. The EAFE Index is
weighted by market capitalization, and therefore, it has a heavy representation
in countries with large stock markets, such as Japan.

The Shearson Lehman Government Bond Index (the "SL Government Index") is a
measure of the market value of all public obligations of the U.S. Treasury; all
publicly issued debt of all agencies of the U.S. Government and all
quasi-federal corporations; and all corporate debt guaranteed by the U.S.
Government. Mortgage-backed securities, flower bonds and foreign targeted issues
are not included in the SL Government Index.

The Shearson Lehman Government/Corporate Bond Index (the "SL
Government/Corporate Index") is a measure of the market value of approximately
5,300 bonds with a face value currently in excess of $1.3 trillion. To be
included in the SL Government/Corporate Index, an issue must have amounts
outstanding in excess of $1 million, have at least one year to maturity and be
rated "Baa" or higher ("investment grade") by a nationally recognized rating
agency.

The Composite Index for Hartford Advisers Fund is comprised of the S&P 500
(55%), the Lehman Government/Corporate Bond Index (35%), both mentioned above,
and 90 Day U.S. Treasury Bills (10%).
<PAGE>

REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
----------------------------------------

To the Board of Directors of
Servus Life Insurance Company:

We have audited the accompanying statutory balance sheets of Servus Life
Insurance Company (a Connecticut Corporation and wholly owned subsidiary of
Hartford Life Insurance Company) (the Company) as of December 31, 1999 and 1998,
and the related statutory statements of operations, changes in capital and
surplus, and cash flows for the years then ended. These statutory financial
statements are the responsibility of the Company's management. Our
responsibility is to express an opinion on these statutory financial statements
based on our audits. These statutory financial statements of the Company as of
December 31, 1997, were audited by other auditors whose report dated February 6,
1998, expressed an unqualified opinion on those statements.

We conducted our audits in accordance with auditing standards generally accepted
in the United States. Those standards require that we plan and perform the audit
to obtain reasonable assurance about whether the financial statements are free
of material misstatement. An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the financial statements. An audit
also includes assessing the accounting principles used and significant estimates
made by management, as well as evaluating the overall financial statement
presentation. We believe that our audits provide a reasonable basis for our
opinion.

The Company presents its financial statements in conformity with statutory
accounting practices as described in Note 2 of notes to statutory financial
statements. When financial statements are presented for purposes other than for
filing with a regulatory agency, auditing standards generally accepted in the
United States require that an auditors' report on them state whether they are
presented in conformity with accounting principles generally accepted in the
United States. The accounting practices used by the Company vary from accounting
principles generally accepted in the United States as explained in Note 2.

In our opinion, because of the effects of the matter discussed in the preceding
paragraph, the statutory financial statements referred to above do not present
fairly, in conformity with accounting principles generally accepted in the
United States, the financial position of the Company as of December 31, 1999 and
1998, or the results of its operations or its cash flows for the years then
ended.

<PAGE>

-2-

In our opinion, the statutory financial statements referred to above present
fairly, in all material respects, the financial position of the Company as of
December 31, 1999 and 1998, and the results of its operations and its cash flows
for the years then ended in conformity with statutory accounting practices as
described in Note 2.

Hartford, Connecticut ARTHUR ANDERSEN LLP
January 31, 2000

<PAGE>

SERVUS LIFE INSURANCE COMPANY
(FORMERLY ROYAL LIFE INSURANCE COMPANY OF AMERICA)
BALANCE SHEETS
(STATUTORY BASIS)
($000)

AS OF DECEMBER 31,
------------------------------------------------

1999 1998
-------------------- --------------------

ASSETS
<S> <C> <C>
Bonds $ 6,136 $ 5,717
Cash and Short-Term Investments 4,751 4,740
- -------------------------------------------------------------------------------------------------------
TOTAL CASH AND INVESTED ASSETS 10,887 10,457
- -------------------------------------------------------------------------------------------------------

Investment Income Due and Accrued 58 36
Receivable from Guaranty Funds 134 104
- -------------------------------------------------------------------------------------------------------
TOTAL ASSETS $ 11,079 $ 10,597
- -------------------------------------------------------------------------------------------------------

LIABILITIES
Taxes, Licenses and Fees Due and Accrued $ 16 $ 11
Federal Income Taxes Accrued 337 172
Remittances and Items Not Allocated 3 4
Asset Valuation Reserve 6 3
Payables to Affiliates 31 23
- -------------------------------------------------------------------------------------------------------
TOTAL LIABILITIES 393 213
- -------------------------------------------------------------------------------------------------------

CAPITAL AND SURPLUS
Common Stock 2,500 2,500
Gross Paid-In and Contributed Surplus 7,569 7,569
Unassigned Funds 617 315
- -------------------------------------------------------------------------------------------------------
TOTAL CAPITAL AND SURPLUS 10,686 10,384
- -------------------------------------------------------------------------------------------------------

- -------------------------------------------------------------------------------------------------------
TOTAL LIABILITIES, CAPITAL AND SURPLUS $ 11,079 $ 10,597
- -------------------------------------------------------------------------------------------------------

</TABLE>

The accompanying notes are an integral part of these
statutory basis financial statements.

3
<PAGE>

SERVUS LIFE INSURANCE COMPANY
(FORMERLY ROYAL LIFE INSURANCE COMPANY OF AMERICA)
STATEMENTS OF OPERATIONS
(STATUTORY BASIS)
($000)

FOR THE YEARS ENDED DECEMBER 31,
-----------------------------------------------------------------

1999 1998 1997
----------------- ----------------- -----------------
(Predecessor)

REVENUES
<S> <C> <C> <C>
Premiums and Annuity Considerations $ - $ - $ 19,492
Net Investment Income 563 570 22,209
Amortization of Interest Maintenance Reserve - - 127
Commissions and Expense Allowances on Reinsurance Ceded 12 17 -
- ------------------------------------------------------------------------------------------------------------------------------
TOTAL REVENUES 575 587 41,828
- ------------------------------------------------------------------------------------------------------------------------------

BENEFITS AND EXPENSES
Decrease in Aggregate Reserves for Future Benefits - - (280,477)
Reserves Transferred - - 267,772
Annuity Benefits - - 5,516
Surrender Benefits - - 43,049
Death Benefits - - 846
Other Benefits to Policyholders and Beneficiaries - - 61
Commissions 12 17 373
General Insurance Expenses 13 - 1,671
Taxes, Licenses and Fees 80 80 (1,116)
Other Expenses - - 65
- ------------------------------------------------------------------------------------------------------------------------------
TOTAL BENEFITS AND EXPENSES 105 97 37,760
- ------------------------------------------------------------------------------------------------------------------------------

NET GAIN FROM OPERATIONS BEFORE FEDERAL INCOME TAX EXPENSE 470 490 4,068
Federal Income Tax Expense 165 172 1,390
- ------------------------------------------------------------------------------------------------------------------------------
NET GAIN FROM OPERATIONS 305 318 2,678
- ------------------------------------------------------------------------------------------------------------------------------

Net Realized Capital Losses, after tax - - (566)
- ------------------------------------------------------------------------------------------------------------------------------
NET INCOME $ 305 $ 318 $ 2,112
- ------------------------------------------------------------------------------------------------------------------------------

</TABLE>

The accompanying notes are an integral part of these
statutory basis financial statements.

4
<PAGE>

SERVUS LIFE INSURANCE COMPANY
(FORMERLY ROYAL LIFE INSURANCE COMPANY OF AMERICA)
STATEMENTS OF CHANGES IN CAPITAL AND SURPLUS
(STATUTORY BASIS)
($000)

FOR THE YEARS ENDED DECEMBER 31,
---------------------------------------------------------------------

1999 1998 1997
------------------ ----------------- --------------------
(Predecessor)

COMMON STOCK,
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Beginning and End of Year $ 2,500 $ 2,500 $ 2,500
- ----------------------------------------------------------------------------------------------------------------------------------

GROSS PAID-IN AND CONTRIBUTED SURPLUS
Balance, Beginning of Year 7,569 7,500 54,350
Net Transfer from (to) Parent 0 69 (46,850)
- ----------------------------------------------------------------------------------------------------------------------------------
Balance, End of Year 7,569 7,569 7,500
- ----------------------------------------------------------------------------------------------------------------------------------

UNASSIGNED FUNDS
Balance, Beginning of Year 315 - 9,029
Net Income 305 318 2,112
Change in Net Unrealized Capital Losses - - (10,452)
Change in Asset Valuation Reserve (3) (3) 3,037
Change in Non-Admitted Assets - - 51
Net Transfer to Parent - - (3,777)
- ----------------------------------------------------------------------------------------------------------------------------------
Balance, End of Year 617 315 -
- ----------------------------------------------------------------------------------------------------------------------------------

CAPITAL AND SURPLUS,
- ----------------------------------------------------------------------------------------------------------------------------------
End of Year $ 10,686 $ 10,384 $ 10,000
- ----------------------------------------------------------------------------------------------------------------------------------

</TABLE>

The accompanying notes are an integral part of
these statutory basis financial statements.

5
<PAGE>

SERVUS LIFE INSURANCE COMPANY
(FORMERLY ROYAL LIFE INSURANCE COMPANY OF AMERICA)
STATEMENTS OF CASH FLOWS
(STATUTORY BASIS)
($000)

FOR THE YEARS ENDED DECEMBER 31,
-------------------------------------------------------------------

1999 1998 1997
------------------ ----------------- -----------------
(Predecessor)
OPERATING ACTIVITIES
<S> <C> <C> <C>
Premiums and Annuity Considerations $ 19 $ 17 $ 19,910
Net Investment Income 616 675 26,814
------------------ ----------------- -----------------
------------------ ----------------- -----------------
TOTAL INCOME 635 692 46,724
------------------ ----------------- -----------------
------------------ ----------------- -----------------

Policy Claims - - 49,832
Commissions and Other Expenses 99 86 2,172
Federal Income Tax Payments - - 1,155
Reserves Ceded - - 267,772
------------------ ----------------- -----------------
------------------ ----------------- -----------------
TOTAL BENEFITS AND EXPENSES 99 86 320,931
------------------ ----------------- -----------------
------------------ ----------------- -----------------

- --------------------------------------------------------------------------------------------------------------------------------
NET CASH PROVIDED BY (USED FOR) OPERATING
ACTIVITIES 536 606 (274,207)
- --------------------------------------------------------------------------------------------------------------------------------

INVESTING ACTIVITIES
PROCEEDS FROM INVESTMENTS SOLD
Bonds 2,900 2,159 290,444
Common Stocks - - 29,001
Mortgage Loans - - 206
Other - - 1,187
------------------ ----------------- -----------------
NET INVESTMENT PROCEEDS 2,900 2,159 320,838
------------------ ----------------- -----------------

TAX REFUND ON CAPITAL LOSSES - - 5

COST OF INVESTMENTS ACQUIRED
Bonds 3,395 2,328 4,845
Other - - (3,802)
------------------ ----------------- -----------------
TOTAL INVESTMENTS ACQUIRED 3,395 2,328 1,043

- --------------------------------------------------------------------------------------------------------------------------------
NET CASH (USED FOR) PROVIDED BY INVESTING ACTIVITIES (495) (169) 319,800
- --------------------------------------------------------------------------------------------------------------------------------

FINANCING AND MISCELLANEOUS ACTIVITIES
Net other cash used (30) (8) (44,188)
- --------------------------------------------------------------------------------------------------------------------------------
NET CASH USED FOR FINANCING AND MISCELLANEOUS ACTIVITIES (30) (8) (44,188)
- --------------------------------------------------------------------------------------------------------------------------------

NET INCREASE IN CASH AND SHORT-TERM INVESTMENTS 11 429 1,405
CASH AND SHORT-TERM INVESTMENTS, Beginning of Year 4,740 4,311 2,906
- --------------------------------------------------------------------------------------------------------------------------------
CASH AND SHORT-TERM INVESTMENTS, End of Year $ 4,751 $ 4,740 $ 4,311
- --------------------------------------------------------------------------------------------------------------------------------

</TABLE>

The accompanying notes are an integral part of
these statutory basis financial statements.

6
<PAGE>

SERVUS LIFE INSURANCE COMPANY
(FORMERLY ROYAL LIFE INSURANCE COMPANY OF AMERICA)
NOTES TO FINANCIAL STATEMENTS
(STATUTORY BASIS)
DECEMBER 31, 1999
(AMOUNTS IN THOUSANDS UNLESS OTHERWISE STATED)

1. ORGANIZATION AND DESCRIPTION OF BUSINESS:

Servus Life Insurance Company (formerly Royal Life Insurance Company of
America) ("Servus", the "Successor" or the "Company") is a wholly owned
subsidiary of Hartford Life Insurance Company ("HLIC"), an indirect
subsidiary of Hartford Life, Inc. ("HLI"). HLI is indirectly majority owned
by The Hartford Financial Services Group, Inc. ("The Hartford"). On February
10, 1997, HLI filed a registration statement, as amended, with the
Securities and Exchange Commission relating to the initial public offering
of HLI Class A Common Stock (the "Offering"). Pursuant to the Offering on
May 22, 1997, HLI sold to the public 26 million shares, representing
approximately 18.6% of the equity ownership of HLI. In 1999, Servus Life
Insurance Company changed its name from Royal Life Insurance Company of
America.

Effective December 31, 1997, all of the common stock of the Company was
purchased by HLIC from Royal Maccabees Life Insurance Company (Royal
Maccabees). Hereafter the Company, with respect to information for the year
ended December 31, 1997, will be defined as the Predecessor. Prior to the
sale, the insurance business of the Predecessor was transferred to Royal
Maccabees as part of a coinsurance/assumption reinsurance agreement. The
Predecessor offered individual annuities contracts, as well as a complete
line of ordinary and universal life insurance. As of December 31, 1997, the
Company ceased writing any new business. Servus is licensed in several
states to sponsor variable and fixed annuities.

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:

BASIS OF PRESENTATION

The accompanying Servus statutory basis financial statements were prepared
in conformity with statutory accounting practices prescribed or permitted by
the National Association of Insurance Commissioners ("NAIC") and the State
of Connecticut Department of Insurance. Certain reclassifications have been
made to prior year financial information to conform to the current year
presentation.

Current prescribed statutory accounting practices include accounting
publications of the NAIC, as well as state laws, regulations and general
administrative rules. Permitted statutory accounting practices encompass
accounting practices approved by state insurance departments. The Company
does not follow any permitted statutory accounting practices that have a
material effect on statutory surplus, statutory net income or risk-based
capital.

The preparation of financial statements in conformity with statutory
accounting principles requires management to make estimates and assumptions
that affect the reported amounts of assets and liabilities and disclosure of
contingent assets and liabilities at the date of the financial statements
and the reported amounts of revenues and expenses during the reported
periods. Actual results could differ from those estimates. The most
significant estimates include those used in determining the liability for
aggregate reserves for future benefits and the liability for premium and
other deposit funds. Although some variability is inherent in these
estimates, management believes the amounts provided are adequate.

STATUTORY ACCOUNTING PRACTICES VERSUS GAAP

Statutory accounting practices and generally accepted accounting principles
("GAAP") differ in certain significant respects. These differences
principally involve:

7
<PAGE>

SERVUS LIFE INSURANCE COMPANY
(FORMERLY ROYAL LIFE INSURANCE COMPANY OF AMERICA)
NOTES TO FINANCIAL STATEMENTS
(STATUTORY BASIS)
DECEMBER 31, 1999
(AMOUNTS IN THOUSANDS UNLESS OTHERWISE STATED)

(1) treatment of policy acquisition costs (commissions, underwriting and
selling expenses, etc.) which are charged to expense when incurred for
statutory purposes rather than on a pro-rata basis over the expected
life and gross profit stream of the policy for GAAP purposes;

(2) recognition of premium revenues, which for statutory purposes, are
generally recorded as collected or when due during the premium paying
period of the contract and, which for GAAP purposes, for universal life
policies and investment products, generally only consist of charges
assessed to policy account balances for cost of insurance, policy
administration and surrenders. When policy charges received relate to
coverage or services to be provided in the future, the charges are
recognized as revenue on a pro-rata basis over the expected life and
gross profit stream of the policy. Also, for GAAP purposes, premiums for
traditional life insurance policies are recognized as revenues when they
are due from policyholders;

(3) development of liabilities for future policy benefits, which for
statutory purposes predominantly use interest rate and mortality
assumptions prescribed by the NAIC which may vary considerably from
interest and mortality assumptions used under GAAP;

(4) providing for income taxes based on current taxable income only for
statutory purposes, rather than establishing additional assets or
liabilities for deferred Federal income taxes to recognize the tax
effect related to reporting revenues and expenses in different periods
for financial reporting and tax return purposes or required under GAAP;

(5) excluding certain assets designated as non-admitted assets (e.g.,
negative Interest Maintenance Reserve and past due agents' balances)
from the balance sheet for statutory purposes by directly changing
surplus;

(6) the calculation of post retirement benefits obligation which, for
statutory accounting, excludes non-vested employees whereas GAAP
liabilities include a provision for such employees; statutory and GAAP
accounting permit either immediate recognition of the liability or
straight-line amortization of the liability over a period not to exceed
20 years. For GAAP, The Hartford's obligation was immediately
recognized, whereas for statutory accounting, the obligation is being
recognized ratably over a 20-year period;

(7) establishing a formula reserve for realized and unrealized losses due to
default and equity risk associated with certain invested assets (Asset
Valuation Reserve) for statutory purposes; as well as the deferral and
amortization of realized gains and losses, caused by changes in interest
rates during the period the asset is held, into income over the
remaining life to maturity of the asset sold (Interest Maintenance
Reserve) for statutory purposes; whereas on a GAAP basis, no such
formula reserve is required and realized gains and losses are recognized
in the period the asset is sold;

(8) the reporting of reserves and benefits net of reinsurance ceded for
statutory purposes; whereas on a GAAP basis, reserves are reported gross
of reinsurance with reserve credits presented as recoverable assets;

(9) the reporting of fixed maturities at amortized cost for statutory
purposes, whereas GAAP requires that fixed maturities be classified as
"held-to-maturity", "available-for-sale" or "trading", based on the
Company's intentions with respect to the ultimate disposition of the
security and its ability to affect those intentions. The Company's bonds
were classified on a GAAP basis as "available-for-sale" and accordingly,
those investments and common stocks were reflected at fair value with
the corresponding impact included as a separate component of
Stockholder's Equity; as well as the change in the basis of

8
<PAGE>

SERVUS LIFE INSURANCE COMPANY
(FORMERLY ROYAL LIFE INSURANCE COMPANY OF AMERICA)
NOTES TO FINANCIAL STATEMENTS
(STATUTORY BASIS)
DECEMBER 31, 1999
(AMOUNTS IN THOUSANDS UNLESS OTHERWISE STATED)

the Company's other invested assets, which consist primarily of limited
partnership investments, which is recognized as income under GAAP and as
a change in surplus under statutory accounting; and

(10) statutory accounting calculates separate account liabilities using
prescribed actuarial methodologies, which approximate the market value
of separate account assets, less applicable surrender charges. The
separate account surplus generated by these reserving methods is
recorded as an amount due to or from the separate account on the
statutory basis balance sheet, with changes reflected in the statutory
basis results of operations. On a GAAP basis, separate account assets
and liabilities are held at fair value.

There were no significant differences in net income or capital and surplus
as of and for the years ended December 31, 1999 and 1998 between GAAP and
statutory accounting practices. The effects on the Predecessor financial
statements as of and for the year ended December 31, 1997, of the variances
between GAAP and statutory accounting principles, although not reasonably
determinable, are presumed to be material.

AGGREGATE RESERVES FOR FUTURE BENEFITS AND LIABILITIES FOR PREMIUM AND OTHER
DEPOSIT FUNDS

Aggregate reserves for payment of future life, health and annuity benefits
were computed in accordance with applicable actuarial standards. Reserves
for life insurance policies are generally based on the 1958 and 1980
Commissioner's Standard Mortality Tables and various valuation rates ranging
from 3% to 6%.

The Predecessor reinsured portions of certain policies that were
underwritten to limit disproportionate risks. The Predecessor had standard
coinsurance and yearly renewable term reinsurance agreements with several
companies. As of December 31, 1997, the Company ceased writing any new
business.

As part of the sales agreement of the Predecessor to HLIC, the Predecessor
ceded 100% of all business to Royal Maccabees which was not otherwise ceded
through a standard coinsurance agreement. This coinsurance/assumption
agreement will remain in effect until all existing business is novated to
Royal Maccabees.

The Predecessor is contingently liable with respect to reinsurance in the
event assuming reinsurers are unable to meet their obligations.

INVESTMENTS

Investments in bonds are carried at amortized cost. Bonds that are deemed
ineligible to be held at amortized cost by the NAIC Securities Valuation
Office ("SVO") are carried at the appropriate SVO published value. When a
reduction in the value of a security is deemed to be unrecoverable, the
decline in value is reported as a realized loss and the carrying value is
adjusted accordingly. Short-term investments consist of money market funds
and are stated at cost, which approximates fair value.

The Asset Valuation Reserve ("AVR") is designed to provide a standardized
reserving process for realized and unrealized losses due to default and
equity risks associated with invested assets. The AVR reserve balances were
$6 and $3 in 1999 and 1998, respectively. Additionally, the Interest
Maintenance Reserve ("IMR") captures net realized capital gains and losses,
net of applicable income taxes, resulting from changes in interest rates and
amortizes these gains or losses into income over the life of the bond or
mortgage loan sold. Realized capital gains and losses, net of taxes not
included in the IMR are reported in the statutory basis statements of
operations. Realized investment gains and losses are determined on a
specific identification basis.

9
<PAGE>

SERVUS LIFE INSURANCE COMPANY
(FORMERLY ROYAL LIFE INSURANCE COMPANY OF AMERICA)
NOTES TO FINANCIAL STATEMENTS
(STATUTORY BASIS)
DECEMBER 31, 1999
(AMOUNTS IN THOUSANDS UNLESS OTHERWISE STATED)

CODIFICATION

The NAIC adopted the Codification of Statutory Accounting principles in
March 1998. The proposed effective date for this statutory accounting
guidance is January 1, 2001. It is expected that Connecticut, the Company's
domiciliary state, will adopt these accounting standards and, therefore, the
Company will make the necessary accounting and reporting changes required
for implementation. The Company has not yet determined the impact that these
new accounting standards will have on its statutory basis financial
statements.

3. INVESTMENTS:

(a) COMPONENTS OF NET INVESTMENT INCOME

1999 1998 1997
- --------------------------------------------------------------------------------------------------------------------------------
(Predecessor)
<S> <C> <C> <C>
Interest income from bonds and short-term investments $ 563 $ 564 $ 21,653
Interest income from policy loans - - 328
Interest and dividends from other investments - 6 603
- --------------------------------------------------------------------------------------------------------------------------
Gross investment income 563 570 22,584
Less: Investment expenses - - 375
- --------------------------------------------------------------------------------------------------------------------------
NET INVESTMENT INCOME $ 563 $ 570 $ 22,209
- --------------------------------------------------------------------------------------------------------------------------

</TABLE>

(b) COMPONENTS OF NET UNREALIZED CAPITAL (LOSSES) GAINS ON BONDS AND SHORT-TERM INVESTMENTS
1999 1998 1997
- --------------------------------------------------------------------------------------------------------------------------------
(Predecessor)
<S> <C> <C> <C>
Gross unrealized capital gains $ - $ 98 $ 74
Gross unrealized capital losses (98) - -
- --------------------------------------------------------------------------------------------------------------------------------
Net unrealized capital (losses) gains (98) 98 74
Balance, beginning of year 98 74 6,435
- --------------------------------------------------------------------------------------------------------------------------------
Change in net unrealized capital (losses) gains
on bonds and short-term investments $ (196) $ 24 $ (6,361)
- --------------------------------------------------------------------------------------------------------------------------------

</TABLE>

(c) COMPONENTS OF NET REALIZED CAPITAL GAINS (LOSSES)
1999 1998 1997
- --------------------------------------------------------------------------------------------------------------------------------
(Predecessor)
<S> <C> <C> <C>
Bonds and short-term investments $ - $ - $ 187
Real estate and other - - (871)
- --------------------------------------------------------------------------------------------------------------------------------
Realized capital losses - - (684)
Capital gains benefit - - (240)
- --------------------------------------------------------------------------------------------------------------------------------
Net realized capital losses - - (444)
Less: transferred to the IMR - - 122
- --------------------------------------------------------------------------------------------------------------------------------
Net realized capital loses $ - $ - $ (566)
- --------------------------------------------------------------------------------------------------------------------------------

</TABLE>

Sales and maturities of investments in bonds and short-term investments for
the years ended December 31, 1999, 1998, and 1997 resulted in proceeds of
$25,600, $154,099, and $365,397, respectively. No gross realized capital
gains or losses were realized in 1999 and 1998.

10
<PAGE>

SERVUS LIFE INSURANCE COMPANY
(FORMERLY ROYAL LIFE INSURANCE COMPANY OF AMERICA)
NOTES TO FINANCIAL STATEMENTS
(STATUTORY BASIS)
DECEMBER 31, 1999
(AMOUNTS IN THOUSANDS UNLESS OTHERWISE STATED)

Gross realized gains of $215 and losses of $28 were realized in 1997, before
transfers to the IMR.

(d) DERIVATIVE INVESTMENTS

The Company had no significant derivative holdings as of December 31, 1999,
1998 or 1997.

(e) CONCENTRATION OF CREDIT RISK

Excluding U.S. government and government agency investments, the Company had
no significant concentration of credit risk in fixed maturities of a single
issuer greater than 10% of capital and surplus as of December 31, 1999.

(f) BONDS AND SHORT-TERM INVESTMENTS
GROSS GROSS ESTIMATED
AMORTIZED UNREALIZED UNREALIZED FAIR
1999 COST GAINS LOSSES VALUE
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
U.S government and government agencies and authorities:
-Guaranteed and sponsored 6,136 - (98) 6,038
Short-term investments 4,748 - - 4,748
- --------------------------------------------------------------------------------------------------------------------------
Total bonds and short-term investments 10,884 - (98) 10,786
- --------------------------------------------------------------------------------------------------------------------------

</TABLE>

GROSS GROSS ESTIMATED
AMORTIZED UNREALIZED UNREALIZED FAIR
1998 COST GAINS LOSSES VALUE
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
U.S government and government agencies and authorities:
-Guaranteed and sponsored $ 5,717 $ 98 $ - $ 5,815
Short-term investments $ 4,829 - $ - $ 4,829
- --------------------------------------------------------------------------------------------------------------------------
Total bonds and short-term investments $ 10,546 $ 98 $ - $ 10,644
- --------------------------------------------------------------------------------------------------------------------------

</TABLE>

The amortized cost and estimated fair value of bonds and short-term investments
as of December 31, 1999 by estimated maturity year are shown below. Expected
maturities differ from contractual maturities due to call or prepayment
provisions.

ESTIMATED
AMORTIZED FAIR
MATURITY COST VALUE
--------------------------------------------------------------------------------
<S> <C> <C>
One year or less $ 4,960 $ 4,916
Over one year through five years 5,924 5,870
--------------------------------------------------------------------------------
Total $ 10,884 $ 10,786
--------------------------------------------------------------------------------

</TABLE>

Bonds with a carrying value of $6,136 were on deposit as of December 31, 1999
with various regulatory authorities as required.

11
<PAGE>

SERVUS LIFE INSURANCE COMPANY
(FORMERLY ROYAL LIFE INSURANCE COMPANY OF AMERICA)
NOTES TO FINANCIAL STATEMENTS
(STATUTORY BASIS)
DECEMBER 31, 1999
(AMOUNTS IN THOUSANDS UNLESS OTHERWISE STATED)

(g) FAIR VALUE OF FINANCIAL INSTRUMENTS BALANCE SHEET ITEMS

1999 1998
------------------------------------------------------------
ESTIMATED ESTIMATED
CARRYING FAIR CARRYING FAIR
AMOUNT VALUE AMOUNT VALUE
- -----------------------------------------------------------------------------------------------------------------
Assets
<S> <C> <C> <C> <C>
Bonds and short-term investments $ 10,884 $ 10,786 $ 10,546 $10,644

</TABLE>

The estimated fair value of bonds and short-term investments was determined by
the Company primarily using NAIC market values.

4. AGGREGATE RESERVES FOR FUTURE BENEFITS AND REINSURANCE:

The Company's existing reserves consist of life deferred fixed annuities and
supplementary contracts. The Company cedes 100% of its insurance to
non-affiliated insurers in order to limit its maximum loss. Such transfer
does not relieve the Company of its primary liability. Failure of reinsurers
to honor their obligations could result in losses to the Company. The
company reduces this risk through evaluating reinsurers financial condition
and monitoring for possible concentrations of credit risk. The Company has
no significant reinsurance related concentrations of credit risk.

The effect of reinsurance as of and for the years ended December 31, is
summarized as follows:

1999 DIRECT CEDED NET
- -----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Aggregate Reserves for Future Benefits $ 12,045 $(12,045) $ -
Policy and Contract Claim Liabilities $ 100 $ (100) $ -

Premiums and Annuity Considerations $ 556 $ (556) $ -
Death, Annuity, Surrender and Other Benefits $ 152 $ (152) $ -

1998 DIRECT CEDED NET
- -----------------------------------------------------------------------------------------------------------
Aggregate Reserves for Future Benefits $ 19,426 $(19,426) $ -
Policy and Contract Claim Liabilities $ 400 $ (400) $ -

Premiums and Annuity Considerations $ 1,937 $ (1,937) $ -
Death, Annuity, Surrender and Other Benefits $ 1,450 $ (1,450) $ -

1997 DIRECT CEDED NET
- -----------------------------------------------------------------------------------------------------------
(Predecessor)
Aggregate Reserves for Future Benefits $ 86,749 $(86,749) $ -
Policy and Contract Claim Liabilities $ 5 $ (5) $ -

Premiums and Annuity Considerations $ 20,253 $ (761) $ 19,492
Death, Annuity, Surrender and Other Benefits $ 50,755 $ (1,283) $ 49,472

</TABLE>

12
<PAGE>

SERVUS LIFE INSURANCE COMPANY
(FORMERLY ROYAL LIFE INSURANCE COMPANY OF AMERICA)
NOTES TO FINANCIAL STATEMENTS
(STATUTORY BASIS)
DECEMBER 31, 1999
(AMOUNTS IN THOUSANDS UNLESS OTHERWISE STATED)

An analysis of Annuity Actuarial Reserves and Deposit Liabilities by Withdrawal
Characteristics as of December 31, 1999 is as follows:

% OF
AMOUNT TOTAL
------------------------------------------------------------------------------------------------------
<S> <C> <C>
At book value less current surrender charge of 5% or more $ 466 4.1%
Total with adjustment or at market value $ 466 4.1%

At book value without adjustment (minimal or
no charge or adjustment) $ 10,540 92.8%

Not subject to discretionary withdrawal $ 352 3.1%
--------------------------------------------------------------------------------------------------
Total, gross $ 11,358 100.0%

Reinsurance Ceded $ 11,358
-----------------------------------------------------------------------------------
Total, net $ -
-----------------------------------------------------------------------------------

</TABLE>

5. RELATED PARTY TRANSACTIONS:

Transactions between the Company and its affiliates relate principally to
tax settlements, rental and service fees, capital contributions and payments
of dividends. Amounts incurred for related party transactions were
insignificant for 1999 and 1998. Approximately $1,196 of general expenses
incurred by the Predecessor in 1997 represents direct and indirect expenses
allocated from Royal Maccabees and related entities. Direct expenses were
based on bills specifically paid for expenses of the Predecessor. The
indirect expenses were costs incurred by Royal Maccabees and affiliates for
the benefit of the Predecessor and were billed based on internal time
studies or studies of other services provided. Also, $703 of the IMR was
transferred to Royal Maccabees in 1997 concurrent with the
coinsurance/assumption reinsurance agreement. Additionally, $150 of the
Predecessor's investment expenses in 1997 represents charges from Royal
Investment Management Company.

6. PREDECESSOR INVESTMENT IN UNCONSOLIDATED SUBSIDIARIES:

On December 31, 1997, the Predecessor sold its investment in subsidiaries to
Royal Maccabees. The results of operations for the year ended December 31,
1997 of the Predecessor's unconsolidated subsidiaries are summarized as
follows:

1997
------------------
<S> <C>
(PREDECESSOR)
Premium and annuity considerations $ 90,424
Investment income, net 53,103
Benefit and reserve changes 130,370
Other expenses 9,884
------------------

Net income 3,273
Other charges to surplus, net (43,569)
------------------

Decrease in capital and surplus for the year, net $ (40,296)
==================
</TABLE>

13
<PAGE>

SERVUS LIFE INSURANCE COMPANY
(FORMERLY ROYAL LIFE INSURANCE COMPANY OF AMERICA)
NOTES TO FINANCIAL STATEMENTS
(STATUTORY BASIS)
DECEMBER 31, 1999
(AMOUNTS IN THOUSANDS UNLESS OTHERWISE STATED)

7. FEDERAL INCOME TAXES:

The Company and The Hartford have entered into a tax sharing agreement under
which each member in the consolidated U.S. Federal income tax return will
make payments between them such that, with respect to any period, the amount
of taxes to be paid by the Company, subject to certain adjustments,
generally will be determined as though the Company were filing separate
Federal, state and local income tax returns.

As long as The Hartford continues to own at least 80% of the combined voting
power and 80% of the value of the outstanding capital stock of HLI, the
Company will be included for Federal income tax purposes in the affiliated
group of which The Hartford is the common parent. The Hartford and its
non-life subsidiaries filed a single consolidated Federal income tax return
for 1998, and intend to file a separate consolidated Federal income tax
return for 1999. The life insurance companies filed a separate consolidated
Federal income tax return for 1998, and intend to file a separate
consolidated Federal income tax return for 1999.

The Predecessor filed a consolidated Federal income tax return with Royal
Maccabees and other subsidiaries for the period through the date of sale,
December 31, 1997. Income tax expense or benefit was allocated to the
Predecessor on a separate return basis. The Predecessor paid or recovered
from Royal Maccabees the amount of the expense or benefit.

The effective tax rate was 35% in 1999 and 1998, as there were no
reconciling items between the tax provision at the U.S. Federal Statutory
rate to Federal income tax expense for the years ended December 31, 1999 and
1998.

8. CAPITAL AND SURPLUS AND SHAREHOLDER DIVIDEND RESTRICTIONS:

The maximum amount of dividends which can be paid to shareholders by
Connecticut domiciled insurance companies, without prior approval, is
generally restricted to the greater of 10% of surplus as of the preceding
December 31st or the net gain from operations for the previous year.
Dividends are paid as determined by the Board of Directors and are not
cumulative. No dividends were paid in 1999 or 1998. The amount available for
dividend in 2000 is approximately $819.

9. COMMITMENTS AND CONTINGENT LIABILITIES:

The Company is involved in various legal actions, which have arisen in the
normal course of its business. In the opinion of management, the ultimate
liability with respect to such lawsuits, as well as other contingencies, is
not considered to be material in relation to the capital and surplus of the
Company.

For business previously written, the Predecessor was involved in litigation
from time to time with claimants, beneficiaries and others, and a number of
lawsuits were pending as of December 31, 1997. There are pending legal
proceedings within the ordinary course of business which, under the terms of
the coinsurance/assumption reinsurance agreement, are now the responsibility
of Royal Maccabees.

The Predecessor participated in the various guaranty funds existing in the
states in which the Predecessor wrote business. The Predecessor is not aware
of any liabilities for future assessments as of December 31, 1997. In the
opinion of management, guaranty fund assessments are not considered to be
material in relation to the capital and surplus of the Company as of
December 31, 1999 and 1998.

14
<PAGE>

PART-C

<PAGE>

OTHER INFORMATION

Item 24. Financial Statements and Exhibits

(a) All financial statements are included in Part A and Part B of the
Registration Statement.

(b) (1) Resolution of the Board of Directors of Royal Life Insurance
Company of America ("Royal"), (now known as Servus Life Insurance
Company), authorizing the establishment of the Separate Account. (1)

(2) Not applicable.

(3) (a) Principal Underwriter Agreement. (1)

(3) (b) Form of Dealer Agreement. (1)

(4) Form of Individual Flexible Premium Variable Annuity Contract.(2)

(5) Form of Application.(2)

(6) (a) Certificate of Amendment.

(6) (b) Bylaws of Royal Life Insurance Company of America ("Royal"),
(now known as Servus Life Insurance Company).(2)

(7) Not applicable.

(8) Fund Participation Agreement. (1)

(9) Opinion and Consent of Lynda Godkin, Senior Vice President,
General Counsel, and Corporate Secretary.

(10) Consent of Arthur Andersen LLP, Independent Public Accountants.

(11) No financial statements are omitted.

(12) Not applicable.

- -------------------------
1 Incorporated by reference to the Pre-Effective Amendment No.1 of Registration
Statement No. 333-65187 filed on February 5, 1999.

2 Incorporated by reference to the initial filing of Registration Statement
No. 333-65187 filed on October 1, 1998.

<PAGE>

(13) Not applicable.

(14) Not applicable.

(15) Copy of Power of Attorney.

(16) Organizational Chart.

Item 25. Directors and Officers of the Depositor

- -------------------------------------------------------------------------------
NAME POSITION WITH SERVUS LIFE INSURANCE
COMPANY (FORMERLY KNOWN AS ROYAL LIFE
INSURANCE COMPANY OF AMERICA)
- -------------------------------------------------------------------------------
<S> <C>
David A. Carlson Vice President
- -------------------------------------------------------------------------------
Mary Jane B. Fortin Vice President & Chief Accounting Officer
- -------------------------------------------------------------------------------
David T. Foy Senior Vice President and Treasurer, Director
- -------------------------------------------------------------------------------
Lynda Godkin Senior Vice President, General Counsel & Corporate
Secretary, Director*
- -------------------------------------------------------------------------------
Thomas M. Marra Director*
- -------------------------------------------------------------------------------
Craig R. Raymond Senior Vice President and Chief Actuary
- -------------------------------------------------------------------------------
Charles F. Shabunia Vice President and Controller
- -------------------------------------------------------------------------------
Lowndes A. Smith President, Director*
- -------------------------------------------------------------------------------
Raymond P. Welnicki Director*
- -------------------------------------------------------------------------------
Lizabeth H. Zlatkus Director*
- -------------------------------------------------------------------------------
</TABLE>

Unless otherwise indicated, the principal business address of each of the above
individuals is P.O. Box 2999, Hartford, CT 06104-2999.

*Denotes Board of Directors.

Item 26. Persons Controlled By or Under Common Control with the Depositor or
Registrant

Filed herewith as Exhibit 16.

Item 27. Number of Contract Owners

As of March 31, 2000, there were 0 Contract Owners.

Item 28. Indemnification

<PAGE>

Sections 33-770 to 33-778, inclusive, of the Connecticut General
Statutes ("CGS") provide that a corporation may provide indemnification
of or advance expenses to a director, officer, employee or agent.
Reference is hereby made to Section 33-771(e) of CGS regarding
indemnification of directors and Section 33-776(d) of CGS regarding
indemnification of officers, employees and agents of Connecticut
corporations. These statutes provide, in general, that Connecticut
corporations incorporated prior to January 1, 1997 shall, except to the
extent that their certificate of incorporation expressly provides
otherwise, indemnify their directors, officers, employees and agents
against "liability" (defined as the obligation to pay a judgment,
settlement, penalty, fine, including an excise tax assessed with
respect to an employee benefit plan, or reasonable expenses incurred
with respect to a proceeding) when (1) a determination is made pursuant
to Section 33-775 that the party seeking indemnification has met the
standard of conduct set forth in Section 33-771 or (2) a court has
determined that indemnification is appropriate pursuant to Section
33-774. Under Section 33-775, the determination of and the
authorization for indemnification are made (a) by the disinterested
directors, as defined in Section 33-770(3); (b) by special counsel; (c)
by the shareholders; or (d) in the case of indemnification of an
officer, agent or employee of the corporation, by the general counsel
of the corporation or such other officer(s) as the board of directors
may specify. Also, Section 33-772 provides that a corporation shall
indemnify an individual who was wholly successful on the merits or
otherwise against reasonable expenses incurred by him in connection
with a proceeding to which he was a party because he was a director of
the corporation. In the case of a proceeding by or in the right of the
corporation or with respect to conduct for which the director, officer,
agent or employee was adjudged liable on the basis that he received a
financial benefit to which he was not entitled, indemnification is
limited to reasonable expenses incurred in connection with the
proceeding against the corporation to which the individual was named a
party.

Under the Depositor's bylaws, the Depositor must indemnify both
directors and officers of the Depositor for (1) any claims and
liabilities to which they become subject by reason of being or having
been directors or officers of the Depositor and (2) legal and other
expenses incurred in defending against such claims, in each case, to
the extent such is consistent with statutory provisions.

Section 33-777 of CGS specifically authorizes a corporation to procure
indemnification insurance on behalf of an individual who was a
director, officer, employer or agent of the corporation. Consistent
with the statute, the directors and officers of the Depositor and
Hartford Securities Distribution Company, Inc. ("HSD") are covered
under a directors and

<PAGE>

officers liability insurance policy issued to The Hartford Financial
Services Group, Inc. and its subsidiaries.

Insofar as indemnification for liabilities arising under the Securities
Act of 1933 may be permitted to directors, officers and controlling
persons of the Registrant pursuant to the foregoing provisions, or
otherwise, the Registrant has been advised that in the opinion of the
Securities and Exchange Commission such indemnification is against
public policy as expressed in the Act and is, therefore, unenforceable.
In the event that a claim for indemnification against such liabilities
(other than the payment by the Registrant of expenses incurred or paid
by a director, officer or controlling person of the Registrant in the
successful defense of any action, suit or proceeding) is asserted by
such director, officer or controlling person in connection with the
securities being registered, the Registrant will, unless in the opinion
of its counsel the matter has been settled by controlling precedent,
submit to a court of appropriate jurisdiction the question whether such
indemnification by it is against public policy as expressed in the Act
and will be governed by the final adjudication of such issue.

<PAGE>

Item 29. Principal Underwriters

(a) HSD acts as principal underwriter for the following investment
companies:

Hartford Life Insurance Company - Separate Account One
Hartford Life Insurance Company - Separate Account Two
Hartford Life Insurance Company - Separate Account Two
(DC Variable Account I)
Hartford Life Insurance Company - Separate Account Two
(DC Variable Account II)
Hartford Life Insurance Company - Separate Account Two
(QP Variable Account)
Hartford Life Insurance Company - Separate Account Two
(Variable Account "A")
Hartford Life Insurance Company - Separate Account Two
(NQ Variable Account)
Hartford Life Insurance Company - Putnam Capital Manager Trust
Separate Account
Hartford Life Insurance Company - Separate Account Three
Hartford Life Insurance Company - Separate Account Five
Hartford Life Insurance Company - Separate Account Seven
Hartford Life and Annuity Insurance Company - Separate Account One
Hartford Life and Annuity Insurance Company - Putnam
Capital Manager Trust - Separate Account Two
Hartford Life and Annuity Insurance Company - Separate Account Three
Hartford Life and Annuity Insurance Company - Separate Account Five
Hartford Life and Annuity Insurance Company - Separate Account Six
Hartford Life and Annuity Insurance Company - Separate Account Seven
Hart Life Insurance Company - Separate Account One
Hart Life Insurance Company - Separate Account Two
American Maturity Life Insurance Company - Separate Account AMLVA
Servus Life Insurance Company - Separate Account One
Servus Life Insurance Company - Separate Account Two

<PAGE>

(b) Directors and Officers of HSD

Name and Principal Positions and Offices
Business Address With Underwriter
---------------- ----------------
David A. Carlson Vice President
Peter W. Cummins Senior Vice President
David T. Foy Treasurer
Lynda Godkin Senior Vice President, General Counsel and
Corporate Secretary
George R. Jay Controller
Robert A. Kerzner Executive Vice President
Thomas M. Marra Executive Vice President, Director
Paul E. Olson Supervising Registered Principal
Lowndes A. Smith President and Chief Executive Officer,
Director

Unless otherwise indicated, the principal business address of each of
the above individuals is P.O. Box 2999, Hartford, CT 06104-2999.

Item 30. Location of Accounts and Records

All of the accounts, books, records or other documents required to
be kept by Section 31(a) of the Investment Company Act of 1940 and
rules thereunder, are maintained by Hartford at 200 Hopmeadow
Street, Simsbury, Connecticut 06089.

Item 31. Management Services

All management contracts are discussed in Part A and Part B of this
Registration Statement.

Item 32. Undertakings

(a) The Registrant hereby undertakes to file a post-effective amendment to
this Registration Statement as frequently as is necessary to ensure
that the audited financial statements in the Registration Statement
are never more than 16 months old so long as payments under the
variable annuity Contracts may be accepted.

(b) The Registrant hereby undertakes to include either (1) as part of any
application to purchase a Contract offered by the Prospectus, a space
that an applicant can check to request a Statement of Additional
Information, or (2) a post card or similar written communication
affixed to or included in the Prospectus that the applicant can remove
to send for a Statement of

<PAGE>

Additional Information.

(c) The Registrant hereby undertakes to deliver any Statement of
Additional Information and any financial statements required to be
made available under this Form promptly upon written or oral request.

(d) Servus Life Insurance Company hereby represents that the aggregate
fees and charges under the Contract are reasonable in relation to the
services rendered, the expenses expected to be incurred, and the risks
assumed by Servus Life Insurance Company.

The Registrant is relying on the no-action letter issued by the Division of
Investment Management to American Counsel of Life Insurance, Ref. No.
IP-6-88, November 28, 1988. The Registrant has complied with conditions one
through four of the no-action letter.

<PAGE>

SIGNATURES
----------

As required by the Securities Act of 1933 and the Investment Company Act of
1940, the Registrant certifies that it meets the requirements of Securities Act
Rule 485 for effectiveness of this Registration Statement and has caused this
Registration Statement to be signed on its behalf, in the City of Hartford, and
State of Connecticut on this 13th day of April, 2000.

SEPARATE ACCOUNT ONE
(Registrant)

*By: Thomas M. Marra*
--------------------------------
Thomas M. Marra, Director

*By: /s/ Thomas S. Clark
SERVUS LIFE INSURANCE COMPANY -------------------
(Depositor) Thomas S. Clark
Attorney-In-fact

*By: Thomas M. Marra*
--------------------------------
Thomas M. Marra, Director

Pursuant to the requirements of the Securities Act of 1933, as amended, this
Registration Statement has been signed below by the following persons and in the
capacity and on the date indicated.

David T. Foy, Senior Vice President and
Treasurer, Director*
Lynda Godkin, Senior Vice President, General *By: /s/ Thomas S. Clark
Counsel and Corporate Secretary, Director* ----------------------
Thomas M. Marra, Director* Thomas S. Clark
Lowndes A. Smith, President, Director * Attorney-In-fact
Raymond P. Welnicki, Director*
Lizabeth H. Zlatkus, Director* Dated: April 13, 2000

<PAGE>

EXHIBIT INDEX

(6) (a) Certificate of Amendment.

(9) Opinion and Consent of Lynda Godkin, Senior Vice President, General
Counsel and Corporate Secretary.

(10) Consent of Arthur Andersen LLP, Independent Public Accountants.

(15) Copy of Power of Attorney.

(16) Organizational Chart.

<PAGE>

CERTIFICATE OF AMENDMENT
STOCK CORPORATION
OFFICE OF THE SECRETARY OF THE STATE
30 TRINITY STREET/P.O. BOX 150470/HARTFORD, CT 06115-0470/NEW/1-97

- -------------------------------------------------------------------------------
SPACE FOR OFFICE USE ONLY
FILING #0002055641 PG 01 OF 05 VOL B-00308
FILED 12/22/1999 10:04 AM PAGE 02877
SECRETARY OF THE STATE
CONNECTICUT SECRETARY OF THE STATE

- -------------------------------------------------------------------------------
1. NAME OF CORPORATION:

Royal Life Insurance Company of America
- -------------------------------------------------------------------------------
2. THE CERTIFICATE OF INCORPORATION IS (CHECK A., B. OR C.):

X A. AMENDED.
- ----
B. AMENDED AND RESTATED.
- ----
C. RESTATED.
- ----
- -------------------------------------------------------------------------------
3. TEXT OF EACH AMENDMENT/RESTATEMENT:

The Amended and Restated Certificate of Incorporation is amended by the
following resolution recommended by the Board of Directors on
December 14, 1999 and adopted by the Sole Shareholder on
December 14, 1999:

RESOLVED, that the Amended and Restated Certificate of Incorporation
of the Company be amended by changing the name of the Company in
each place that such name therein appears, such that the new name of
the Company shall be

SERVUS LIFE INSURANCE COMPANY

such change to become effective as soon as is practicable. All other
sections of the Amended and Restated Certificate of Incorporation
shall remain unchanged and continue in full force and effect.

(PLEASE REFERENCE AN 8 1/2 X 11 ATTACHMENT IF ADDITIONAL SPACE IS NEEDED)
- -------------------------------------------------------------------------------

<PAGE>
- -------------------------------------------------------------------------------
SPACE FOR OFFICE USE ONLY
FILING #0002055641 PG 02 OF 05 VOL B-00308
FILED 12/22/1999 10:04 AM PAGE 02878
SECRETARY OF THE STATE
CONNECTICUT SECRETARY OF THE STATE

- -------------------------------------------------------------------------------
4. VOTE INFORMATION (CHECK A., B. OR C.)

X A. THE RESOLUTION WAS APPROVED BY SHAREHOLDERS AS FOLLOWS:
- ---- (SET FORTH ALL VOTING INFORMATION REQUIRED BY CONN. GEN. STAT.
SECTION 33-800 AS AMENDED IN THE SPACE PROVIDED BELOW)

The number of outstanding shares of the Corporation's common capital
stock entitled to vote thereon was 25,000. The vote favoring
adoption was 25,000 shares, which was sufficient for approval of the
resolution.

- -------------------------------------------------------------------------------
B. THE AMENDMENT WAS ADOPTED BY THE BOARD OF DIRECTORS WITHOUT
- ---- SHAREHOLDER ACTION. NO SHAREHOLDER VOTE WAS REQUIRED FOR ADOPTION.

C. THE AMENDMENT WAS ADOPTED BY THE INCORPORATORS WITHOUT SHAREHOLDER
- ---- ACTION. NO SHAREHOLDER VOTE WAS REQUIRED FOR ADOPTION.
- -------------------------------------------------------------------------------
5. EXECUTION
- -------------------------------------------------------------------------------
Dated this 14th day of December, 1999
- -------------------------------------------------------------------------------
Thomas A. Klee Assistant Corporate Sec. /s/ Thomas A. Klee
---------------- ------------------------- -------------------
PRINT OR TYPE NAME OF CAPACITY OF SIGNATORY SIGNATURE
SIGNATORY
- -------------------------------------------------------------------------------

<PAGE>
- -------------------------------------------------------------------------------

FILING #0002055641 PG 03 OF 05 VOL B-00308
FILED 12/22/1999 10:04 AM PAGE 02879
SECRETARY OF THE STATE
CONNECTICUT SECRETARY OF THE STATE

ROYAL LIFE INSURANCE COMPANY OF AMERICA

UNANIMOUS WRITTEN CONSENT
OF THE
SOLE SHAREHOLDER

HARTFORD LIFE INSURANCE COMPANY, being the sole shareholder of ROYAL LIFE
INSURANCE COMPANY OF AMERICA, (the "Company") hereby consents in accordance
with Section 33-698 of the Connecticut Business Corporation Act, through the
undersigned officer, to the following resolutions, such action to have the
same force and effect as if taken at a meeting of the Shareholders of the
Company duly called and held for such purpose:

CHANGE OF CORPORATE NAME
- ------------------------

WHEREAS, the undersigned sole shareholder deems it in the best interest
of the Company to change the Company's name by amending the Amended and
Restated Certificate of Incorporation; and

WHEREAS, the Board of Directors of the Company has adopted resolutions
recommending such amendment;

NOW, THEREFORE, BE IT

RESOLVED, that the Amended and Restated Certificate of Incorporation
of the Company be amended by changing the name of the Company in each
place that such name therein appears, such that the new name of the
Company shall be

SERVUS LIFE INSURANCE COMPANY

such change to become effective as soon as is practicable. All other
sections of the Amended and Restated Certificate of Incorporation shall
remain unchanged and continue in full force and effect; and be it further

RESOLVED, that the Board of Directors and officers of the Company are,
and each of the officers acting singly is, authorized and directed to
prepare and file the Certificate of Amendment and to do all acts and
things and to sign, seal, execute, acknowledge, certify, file, deliver
and record all papers, instruments, documents, agreements and
certificates, and to pay all charges, fees, taxes and other expenses, as
they or any of them may determine from time to time to be necessary or
appropriate in order to effectuate the purposes of the foregoing
resolution in each jurisdiction in which the Company is authorized,
qualified or licensed to do business.

<PAGE>

FILING #0002055641 PG 04 OF 05 VOL B-00308
FILED 12/22/1999 10:04 AM PAGE 02880
SECRETARY OF THE STATE
CONNECTICUT SECRETARY OF THE STATE

IN WITNESS WHEREOF, the undersigned has executed this Consent as of the 14th
day of December, 1999, the effective date of this action.

HARTFORD LIFE INSURANCE COMPANY

By: /s/ Lowndes A. Smith
--------------------------------------------
Name: Lowndes A. Smith
Title: President and Chief Executive Officer

<PAGE>

[LOGO] STATE OF CONNECTICUT
INSURANCE DEPARTMENT

FILING #0002055641 PG 05 OF 05 VOL B-00308
FILED 12/22/1999 10:04 AM PAGE 02881
SECRETARY OF THE STATE
CONNECTICUT SECRETARY OF THE STATE

THIS IS TO CERTIFY, THAT THE CERTIFICATE OF AMENDMENT TO THE CERTIFICATE
OF INCORPORATION OF ROYAL LIFE INSURANCE COMPANY OF AMERICA, WITH RESPECT TO
THE CHANGE OF NAME TO SERVUS LIFE INSURANCE COMPANY, HAS BEEN REVIEWED AND
APPROVED.

WITNESS MY HAND AND OFFICIAL SEAL, AT HARTFORD,
THIS 21ST DAY OF DECEMBER, 1999

/s/ George M. Reider
----------------------
Insurance Commissioner

<PAGE>

[LOGO]
[COMPANY]

April 13, 2000 LYNDA GODKIN
Senior Vice President, General
Counsel & Corporate Secretary
Board of Directors
Servus Life Insurance Company
200 Hopmeadow Street
Simsbury, CT 06089

RE: SEPARATE ACCOUNT ONE ("Separate Account")
SERVUS LIFE INSURANCE COMPANY ("Company")
FILE NO. 333-65187

Dear Sir/Madam:

I have acted as General Counsel to Servus Life Insurance Company (the
"Company"), a Connecticut insurance company, and Separate Account One (the
"Account") in Connecticut with the registration of an indefinite amount of
securities in the form of flexible premium variable annuity insurance
contracts (the "Contracts") with the Securities and Exchange Commission under
the Securities Act of 1933, as amended. I have examined such documents
(including the Form N-4 Registration Statement) and reviewed such questions
of law as I considered necessary and appropriate, and on the basis of such
examination and review, it is my opinion that:

1. The Company is a corporation duly organized and validly existing as a stock
life insurance company under the laws of the State of Connecticut and is
duly authorized by the Insurance Department of the State of Connecticut
to issue the Contracts.

2. The Account is a duly authorized and existing separate account established
pursuant to the provisions of Section 38a-433 of the Connecticut Statutes.

3. To the extent so provided under the Contracts, that portion of the assets
of the Account equal to the reserves and other contract liabilities with
respect to the Account will not be chargeable with liabilities arising out
of any other business that the Company may conduct.

4. The Contracts, when issued as contemplated by the Form N-4 Registration
Statement, will constitute legal, validly issued and binding obligations of
the Company.

I hereby consent to the filing of this opinion as an exhibit to the Form N-4
Registration Statement for the Contracts and the Account.

Sincerely,

/s/ Lynda Godkin

Lynda Godkin

<PAGE>

ARTHUR ANDERSEN LLP

CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS
-----------------------------------------

As independent public accountants, we hereby consent to the use of our report
(and to all references to our Firm) included in or made a part of this
Registration Statement File No. 333-65187 for Servus Life Insurance Company
Separate Account One on Form N-4.

/s/ Arthur Andersen LLP

Hartford, Connecticut
April 11, 2000

<PAGE>

SERVUS LIFE INSURANCE COMPANY

POWER OF ATTORNEY

David T. Foy
Lynda Godkin
Thomas M. Marra
Lowndes A. Smith
Raymond P. Welnicki
David M. Znamierowski

do hereby jointly and severally authorize Lynda Godkin, Christine Repasy,
Marianne O'Doherty , Thomas S. Clark and Marta Czekajewski to sign as their
agent any Registration Statement, pre-effective amendment, post-effective
amendment and any application for exemptive relief of the Servus Life Insurance
Company under the Securities Act of 1933 and/or the Investment Company Act of
1940, and do hereby ratify such signatures heretofore made by such persons.

IN WITNESS WHEREOF, the undersigned have executed this Power of Attorney for the
purpose herein set forth.

/s/ David T. Foy
- -------------------------------- Dated as of January 15, 2000
David T. Foy

/s/ Lynda Godkin
- -------------------------------- Dated as of January 15, 2000
Lynda Godkin

/s/ Thomas M. Marra
- -------------------------------- Dated as of January 15, 2000
Thomas M. Marra

/s/ Lowndes A. Smith
- -------------------------------- Dated as of January 15, 2000
Lowndes A. Smith

/s/ Raymond P. Welnicki
- -------------------------------- Dated as of January 15, 2000
Raymond P. Welnicki

/s/ David M. Znamierowski
- -------------------------------- Dated as of January 15, 2000
David M. Znamierowski

<PAGE>

ORGANIZATIONAL CHART

<S> <C>

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
(DELAWARE)
|
---------------------------------------------
NUTMEG INSURANCE COMPANY |
(CONNECTICUT) THE HARTFORD INVESTMENT
| MANAGEMENT COMPANY
HARTFORD FIRE INSURANCE COMPANY (DELAWARE)
(CONNECTICUT) |
| |
HARTFORD ACCIDENT AND INDEMNITY COMPANY HARTFORD INVESTMENT
(CONNECTICUT) SERVICES, INC.
| (CONNECTICUT)
HARTFORD LIFE, INC.
(DELAWARE)
|
HARTFORD LIFE AND ACCIDENT INSURANCE COMPANY
(CONNECTICUT)
|
|
|
-------------------------------------------------------------------------------------------------------------------------
| | | | | | | | |
HARTFORD LIFE | | | | | | PLANCO PLANCO
INTERNATIONAL, LTD.| | | | | | FINANCIAL INCORPORATED
(CONNECTICUT) | | | | | | SERVICES, (PENNSYLVANIA)
| | | | | | INCORPORATED
| | | | | | (PENNSYLVANIA)
| | | | | |
| HART LIFE HARTFORD FINANCIAL HARTFORD LIFE HARTFORD AMERICAN
| INSURANCE SERVICES LIFE INSURANCE COMPANY FINANCIAL MATURITY LIFE
| COMPANY INSURANCE COMPANY (CONNECTICUT) SERVICES, LLC INSURANCE COMPANY
| (CONNECTICUT) (CONNECTICUT) | (DELAWARE) (CONNECTICUT)
| | | |
| ------------------------------------- | AML FINANCIAL, INC.
| | | | | (CONNECTICUT)
|SERVUS LIFE HARTFORD HARTFORD |
| INSURANCE INTERNATIONAL LIFE AND |
| COMPANY LIFE REASSURANCE ANNUITY INSURANCE |
|(CONNECTICUT) CORPORATION COMPANY |
| (CONNECTICUT) (CONNECTICUT) |
| | |
| | |
| HARTFORD |
| LIFE, LTD. |
| (BERMUDA) |
| |
| |
----------| -----------------------------------------------------------------------
| | | | |
INTERNATIONAL HL INVESTMENT HARTFORD HARTFORD SECURITIES HARTFORD-COMPREHENSIVE
CORPORATE ADVISORS, LLC EQUITY SALES DISTRIBUTION EMPLOYEE
MARKETING GROUP, INC. (CONNECTICUT) COMPANY, INC. COMPANY, INC. BENEFIT SERVICE
(CONNECTICUT) | (CONNECTICUT) (CONNECTICUT) COMPANY
| | (CONNECTICUT)
| |
THE EVERGREEN HARTFORD INVESTMENT
GROUP, INC. FINANCIAL SERVICES
(NEW YORK) COMPANY
(DELAWARE)
</TABLE>

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
(DELAWARE)
|
NUTMEG INSURANCE COMPANY
(CONNECTICUT)
|
HARTFORD FIRE INSURANCE COMPANY
(CONNECTICUT)
|
----------------------------------------------------------------------------------------------------------------------------
| | |
| | Hartford Accidental and Indemnity Company
| | (Connecticut)
| | |
| | Hartford Life, Inc
| | (Delaware)
| | |
| | Hartford Life and Accident Insurance Company
| | (Connecticut)
| | |
| | HARTFORD LIFE
| | -------INTERNATIONAL LTD.
| | | (CONNECTICUT)
| | | |
| | | ITT HARTFORD
| | | ----SUDAMERICANA
| | | | HOLDING S.A.
| | | | (ARGENTINA)
| | | |------------------------------------------------------
| | | | | |
| | | | ITT HARTFORD GALICIA INSTITUTO DE
| | | | SEGUROS VIDA COMPANIA SALTA COMPANIA DE
| | | |------DE VIDA S.A. DE SEGUROS S.A. SEGUROS DE VIDA S.A.
| | | | (URUGUAY) (ARGENTINA) (ARGENTINA)
| | | |
| | ICATU | | HARTFORD
| | HARTFORD | |---SEGUROS DE VIDA S.A.
| | SEGUROS S.A.----------| | (ARGENTINA)
| | (BRAZIL) |
| | | |
| | | | HARTFORD
| | -- ----------| |-------SEGUROS DE
| | | | | RETIRO S.A.
| | | | | (ARGENTINA)
|-----------|----------------|-------------------|--------------------------------------------------------------------------
| | | | |
| | | ICATU HARTFORD | CONSULTORA DE CAPITALES
| | | FUNDO DE PENSAO | S.A. SOCIEDAD GERENTE
| | | (BRAZIL) |----DE FONDOS COMUNES
| | | | | DE ENVERSION
| | | | | (ARGENTINA)
| | | ICATU HARTFORD |
| | | CAPITALIZACAO S.A. | CLARIDAD
| | | (BRAZIL) | ADMINISTRADORA DE
| | | | |---FONDOS DE JUBILACIONES
| | | BRAZILCAP | Y PENSIONES S.A.
| | | CAPITALIZACAO S.A. | (ARGENTINA)
| | | (BRAZIL) |
| | | |
| | -------------------------- |
| |--------------- | |
| | | |
HARTFORD FIRE HARTFORD FIRE | |------- SEGPOOL S.A.
INTERNATIONAL------------INTERNATIONAL, LTD. | | (ARGENTINA)
(GERMANY) GMBH (CONNECTICUT) | |
(WEST GERMANY) | |
| |
ICATU HARTFORD | | THESIS S.A.
ADMINISTRACAO | |-------- (ARGENTINA)
DE BENEFICIOS LTDA-- | |
(BRAZIL) |
|
|
|
|--------- U.O.R., S.A.
(ARGENTINA)

</TABLE>
<PAGE>
<TABLE>
<S> <C>
THE HARTFORD FINANCIAL SERVICES GROUP, INC.
(DELAWARE)
|
NUTMEG INSURANCE COMPANY
(CONNECTICUT)
|
HARTFORD FIRE INSURANCE COMPANY
(CONNECTICUT)
|
- --------------------------------------------------------------------------------------------------------------------------------|
| |
THE HARTFORD INTERNATIONAL |
|-----------------------------------------------------------------------FINANCIAL SERVICES GROUP, INC. |
| | | (DELAWARE) |
| | | ----------------------|----------------- |
| | | | | | | |
ZWOLSCHE | | ITT HARTFORD LONDON AND | HARTFORD |
ALGEMEENE N.V. | | INTERNATIONAL, LTD. EDINBURGH | EUROPE, INC. |
(NETHERLANDS) | | (U.K.) INSURANCE GROUP, LTD.| (DELAWARE) |
| | | (U.K.) | |
| | | | | |
| | | ------------- | |
| | | | | |
| ITT ASSURANCES HARTFORD INTERNATIONAL | LONDON AND -THE HARTFORD |
| S.A. INSURANCE CO., N.V. |--- EDINBURGH INTERNATIONAL |
| ZWOLSCHE ALGEMEENE (FRANCE) (BELGIUM) | INSURANCE CO., LTD. FINANCIAL |
|----SCHADEVERZEKERING | | (U.K.) SERVICES |
--------| N.V.----------------------------------- | | | GROUP CIA |
| | (NETHERLANDS) | | | | DE SEGUROS Y |
Z.A. | | | | EXCESS INSURANCE REASEGUROS S.A.|
- --VERZEKERINGEN | | | | COMPANY LTD. (SPAIN) |
| N.V. | ZWOLSCHE ALGEMEENE | | | (U.K.) |
| (BELGIUM) |------HERVERZEKERING B.V. | | | |
| | -----| (NETHERLANDS) | | | LONDON AND |
| | | | | | |--- EDINBURGH LIFE |
| Z.A. LUX S.A. | | | | ASSURANCE CO., LTD. |
| (LUXEMBURG) | ZWOLSCHE ALGEMEENE | | | (U.K.) |
| |--LEVENS-VERZEKERING N.V.------------ | | | |
| | (NETHERLANDS) | | | | |
- ----------------|------------------------------------|------------|------|--------------|---------------------------------------|
| | | | | | |
| -------- | | | | |
| | | | | | | |
| ZWOLSCHE | ZWOLSCHE ALGEMEENE ZWOLSCHE ALGEMEENE | | | |
| ALGEMEENE |-----HYPOTHEKEN N.V. BELEGGINGEN III B.V. | | | |
| EUROPA B.V. | (NETHERLANDS) (NETHERLANDS) | | | |
| (NETHERLANDS) | ---------- | | |
- --------| | | | | |
| EXPLOITATIEMAAT- BELEGGINGSMAAT- | | |
|----- SCHAPPIJ SCHAPPIJ | | |
| BUIZERDLAAN B.V. BUIZERDLAAN B.V. | | |
| (NETHERLANDS) (NETHERLANDS) | | |
| | | |
| | | -----
| HOLLAND | |-------------------------- |
|---- BELEGGINGSGROEP B.V. | | | |
(NETHERLANDS) | |----------------- | |
| -------| | | |
| | | | | |
| | | | | |
F.A. KNIGHT | MACALISTER & LONDON AND | HARTFORD FIRE
& SON N.V. | DUNDAS, LTD. EDINBURGH | INTERNATIONAL
(BELGIUM) | (SCOTLAND) TRUSTEES, LTD. | SERVICIOS
| (U.K.) | (SPAIN)
------------------------- -----------
| | |
FENCOURT QUOTEL LONDON AND
PRINTERS, LTD. INSURANCE EDINBURGH
(U.K.) SYSTEMS, LTD. SERVICES, LTD.
(U.K.) (U.K.)
|
EUROSURE
INSURANCE
MARKETING, LTD.
(U.K.)

</TABLE>