<PAGE>
GROUP VARIABLE ANNUITY CONTRACTS
HARTFORD LIFE INSURANCE COMPANY
SUPPLEMENT DATED NOVEMBER 1, 1996 TO THE GROUP VARIABLE ANNUITY CONTRACTS WITH
RESPECT TO DC-I AND DC-II PROSPECTUS (HV-1915) DATED MAY 1, 1996
The Fee Table Summary of "Contract Owner Transaction Expense (All Sub Accounts)"
on page 5 of the prospectus, is replaced with the following:
FEE TABLE
SUMMARY
CONTRACT OWNER TRANSACTION EXPENSES
(ALL SUB-ACCOUNTS)
<TABLE>
<S> <C>
Sales Load Imposed on Purchases (as a percentage of premium
payments)............................................................ None
Transfer Fee.......................................................... None
Contingent Deferred Sales Charge (as a percentage of amounts
withdrawn)
First through Sixth Year.......................................... 5%
Seventh and Eighth Year........................................... 4%
Ninth and Tenth Year.............................................. 3%
Eleventh and Twelfth Year......................................... 2%
Thirteenth Year................................................... 0%
Annual Contract Fee................................................... None
Annual Expenses -- Separate Account (as percentage of average account
value)
Mortality and Expense Risk (DC I)(1).............................. 0.900%
Mortality and Expense Risk (DC II)................................ 1.250%
</TABLE>
The Transfer Fee, Contingent Deferred Sales Charge, Annual Contract Fee and
Mortality and Expense Risk charge may be reduced or eliminated. See "Experience
Rating of Contracts" on page 24.
(1) The Mortality and Expense Risk charge under Separate Account DC-I is 0 .750%
of the average daily net assets of DC-I for contract values which exceed
fifty million dollars.
ANNUAL FUND OPERATING EXPENSES
(AS PERCENTAGE OF NET ASSETS)
<TABLE>
<CAPTION>
TOTAL FUND
MANAGEMENT OTHER OPERATING
FEES EXPENSES EXPENSES
---------- -------- ----------
<S> <C> <C> <C>
Hartford Bond Fund............................ 0.497% 0.028% 0.525%
Hartford Stock Fund........................... 0.455% 0.020% 0.475%
HVA Money Market Fund......................... 0.421% 0.025% 0.446%
Hartford Advisers Fund........................ 0.625% 0.021% 0.646%
Hartford U.S. Government Money Market Fund.... 0.425% 0.141% 0.566%
Hartford Capital Appreciation Fund............ 0.655% 0.021% 0.676%
Hartford Mortgage Securities Fund............. 0.425% 0.041% 0.466%
Hartford Index Fund........................... 0.375% 0.014% 0.389%
Hartford International Opportunities Fund..... 0.713% 0.147% 0.860%
Calvert Responsibly Invested Balanced
Portfolio.................................... 0.700% 0.130% 0.830%
Hartford Dividend & Growth Fund............... 0.750% 0.023% 0.773%
</TABLE>
<PAGE>
EXAMPLE -- DCI
<TABLE>
<CAPTION>
If you surrender your contract If you annuitize at the end of If you do not surrender your
at the end of the applicable the applicable time period: contract: You would pay the
time period: You would pay the You would pay the following following expenses on a $1,000
following expenses on a $1,000 expenses on a $1,000 investment, assuming a 5%
investment, assuming a 5% investment assuming a 5% annual return on assets:
annual return on assets: annual return on assets:
SUB-ACCOUNT 1 YR. 3 YRS. 5 YRS. 10 YRS. 1 YR. 3 YRS. 5 YRS. 10 YRS. 1 YR. 3 YRS. 5 YRS. 10 YRS.
------ ------- ------- -------- ------ ------- ------ -------- ------ ------- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Hartford Bond Fund........... $ 66 $ 101 $ 138 $ 214 $ 15 $ 45 $ 78 $ 172 $ 15 $ 45 $ 78 $ 172
Hartford Stock Fund.......... 66 99 135 209 14 44 76 166 14 44 76 166
HVA Money Market Fund........ 66 99 134 206 14 43 74 163 14 43 74 163
Hartford Advisers Fund....... 68 104 144 227 16 49 85 185 16 49 85 185
U.S. Government Money Market
Fund....................... 67 102 140 219 15 47 81 176 15 47 81 176
Hartford Capital Appreciation
Fund....................... 68 105 134 230 16 50 86 189 16 50 86 189
Hartford Mortgage Securities
Fund....................... 66 99 135 208 14 44 75 165 14 44 75 165
Hartford Index Fund.......... 65 97 131 199 13 41 71 156 13 41 71 156
Hartford International
Opportunities Fund......... 70 111 155 250 18 56 96 209 18 56 96 209
Calvert Responsibly Invested
Balanced Portfolio......... 69 110 153 247 18 55 95 205 18 55 95 205
Hartford Dividend & Growth
Fund....................... 69 108 150 241 17 53 92 199 17 53 92 199
</TABLE>
EXAMPLE -- DCII
<TABLE>
<CAPTION>
If you surrender your contract If you annuitize at the end of If you do not surrender your
at the end of the applicable the applicable time period: You contract: You would pay the
time period: You would pay the would pay the following following expenses on a $1,000
following expenses on a $1,000 expenses on a $1,000 investment investment, assuming a 5%
investment, assuming a 5% assuming a 5% annual return on annual return on assets:
annual return on assets: assets:
SUB-ACCOUNT 1 YR. 3 YRS. 5 YRS. 10 YRS. 1 YR. 3 YRS. 5 YRS. 10 YRS. 1 YR. 3 YRS. 5 YRS. 10 YRS.
------ ------- ------- -------- ------ ------- ------- -------- ------ ------- ------- --------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Hartford Bond Fund........... $ 70 $ 111 $ 155 $ 251 $ 18 $ 56 $ 97 $ 210 $ 18 $ 56 $ 97 $ 210
Hartford Stock Fund.......... 69 110 153 246 18 55 94 205 18 55 94 205
HVA Money Market Fund........ 69 109 151 243 17 54 93 202 17 54 93 202
Hartford Advisers Fund....... 71 115 161 264 19 60 103 223 19 60 103 223
U.S. Government Money Market
Fund....................... 70 112 157 256 19 58 99 215 19 58 99 215
Hartford Capital Appreciation
Fund....................... 71 116 151 267 20 61 105 227 20 61 105 227
Hartford Mortgage Securities
Fund....................... 69 110 152 245 18 54 94 204 18 54 94 204
Hartford Index Fund.......... 68 107 149 237 17 52 90 195 17 52 90 195
Hartford International
Opportunities Fund......... 73 121 172 286 22 67 114 246 22 67 114 246
Calvert Responsibly Invested
Balanced Portfolio......... 73 120 170 283 21 66 113 243 21 66 113 243
Hartford Dividend & Growth
Fund....................... 72 119 168 277 21 64 110 237 21 64 110 237
</TABLE>
The purpose of this table is to assist the Contract Owner in understanding
various costs and expenses that a Contract Owner will bear directly or
indirectly. The table reflects expenses of the Separate Account and underlying
Funds. Premium taxes may also be applicable.
This EXAMPLE should not be considered a representation of past or future
expenses and actual expenses may be greater or less than those shown.
The Subsection entitled "D. Transfer Between Accounts" on page 7 is replaced
with the following:
D. Transfer Between Accounts
During the Accumulation Period a Contract Owner may allocate monies held in
the Separate Account among the available Sub-Accounts of the Separate
Account. There may be restrictions under certain circumstances, (see "May I
transfer assets between Sub-Accounts?" commencing on page 16).
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<PAGE>
The Subsection entitled "I. Asset Charge in the Separate Account" on page 8 is
replaced with the following:
I. Asset Charge in the Separate Account
During both the Accumulation Period and the Annuity Period a charge is made
by Hartford Life for providing the mortality, expense, and administrative
undertakings under the contracts. With respect to contract values held in
DC-I, such charge is an annual rate of .90% (.50% for mortality, .15% for
expense and .25% for administrative undertakings) of the average daily net
assets of DC-I; however, where contract values exceed fifty million dollars
($50,000,000.00), such charge is an annual rate of .75% (.50% for mortality,
.10% for expense and .15% for administrative undertakings) of the average
daily net assets of DC-I. With respect to contract values held in DC-II,
such charge is an annual rate of 1.25% (.85% for mortality, .15% for expense
and .25% for administrative undertakings) of the average daily net assets of
DC-II. The rate charged for the mortality, expense and administrative
undertakings under the contracts may be reduced (see "Experience Rating of
Contracts", page 24). The rate charged for the expense, mortality and
administrative undertakings may be periodically increased by Hartford Life
subject to a maximum annual rate of 2.00%, provided, however, that no such
increase will occur unless the Commission shall have first approved any such
increase. (See "Charges Under The Contract", page 23.)
Add the following to the end of the fourth paragraph under the Subsection
entitled "What are the DC-I and DC-II contracts?" on page 14:
The Small Business Job Protection Act of 1996, effective August 20, 1996,
requires that all assets and income of an eligible Deferred Compensation
Plan which is established by a governmental employer which is a State, a
political subdivision of a State, or any agency or instrumentality of a
State or political subdivision of a State, must be held in trust (or under
certain specified custodial accounts or annuity contracts) for the exclusive
benefit of Participants and their beneficiaries. Special transition rules
apply to such governmental Deferred Compensation Plans already in existence
on August 20, 1996, and provide that such Plans need not establish a trust
before January 1, 1999.
Delete the last sentence of the fifth paragraph under the Subsection entitled
"May I transfer assets between Sub-Accounts?" on page 16.
The description of "Option 5: Payments for a Designated Period" on page 21 is
amended to make the minimum number of years five (5).
The Subsection entitled "Is there ever a time when the sales charges do not
apply?" on page 23 is replaced with the following:
Is there ever a time when the sales charges do not apply?
No deduction for contingent deferred sales charges will apply to a
surrender, including amounts applied to effect an annuity payout under one
of the available Annuity Options, payable directly to the Participant or the
Participant's beneficiary on account of: (1) the death of the Participant,
(2) a financial hardship withdrawal as defined in the Plan, (3) the
Participant's separation from service, or (4) the Participant's retirement.
The sixth paragraph under the Subsection entitled "What is the mortality,
expense risk and administrative charge?" on page 24 is replaced with the
following:
For assuming these risks Hartford Life presently charges .90% (.50% for
mortality, .15% for expense and .25% for administrative undertakings) of the
average daily net assets of DC-I; however, where contract values exceed
fifty million dollars ($50,000,000.00), such charge is an annual rate of
.75% (.50% for mortality, .10% for expense and .15% for administrative
undertakings) of the average daily net assets of DC-I. With respect to the
contract values in DC-II, such charge is an annual rate of 1.25% (.85% for
mortality, .15% for expense and .25% for administrative undertakings) of the
average
3
<PAGE>
daily net assets of DC-II, as appropriate. The rate charged for the expense,
mortality and administrative undertakings under the contracts may be reduced
(see "Experience Rating of Contracts", page 24). The rate charged for the
expense, mortality and administrative undertakings may be periodically
increased by Hartford Life subject to a maximum annual rate of 2.00%,
provided, however, that no such increase will occur unless the Commission
shall have first approved such increase.
Add the following to the Subsection entitled "Are there any other deductions?"
on page 25: Currently there is no transfer charge.
The following is added at the end of the second paragraph under the Subsection
entitled "3. Deferred Compensation Plans Under Section 457" on page 29:
The Small Business Job Protection Act of 1996, effective August 20, 1996,
requires that all assets and income of an eligible Deferred Compensation Plan
which is established by a governmental employer which is a State, a political
subdivision of a State, or any agency or instrumentality of a State or political
subdivision of a State, must be held in trust (or under certain specified
custodial accounts or annuity contracts) for the exclusive benefit of
participants and their beneficiaries. Special transition rules apply to such
governmental Deferred Compensation Plans already in existence on August 20,
1996, and provide that such Plans need not establish a trust before January 1,
1999.
HV-2085
33-19944
4
