HARTFORD LIFE INSURANCE CO DC VARIABLE ACCOUNT I, 485APOS, 1997-02-28

HARTFORD LIFE INSURANCE CO DC VARIABLE ACCOUNT I
485APOS, 1997-02-28

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File No. 33-19944

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. 11 [X]

REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940

Amendment No. 23 [X]

HARTFORD LIFE INSURANCE COMPANY
DC VARIABLE ACCOUNT-I
(Exact Name of Registrant)

HARTFORD LIFE INSURANCE COMPANY
(Name of Depositor)

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

(860) 843-6733

(Depositor's Telephone Number, Including Area Code)

MARIANNE O'DOHERTY, ESQ.
HARTFORD LIFE INSURANCE COMPANIES

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

_____ on May 1, 1997 pursuant to paragraph (b) of Rule 485

_____ 60 days after filing pursuant to paragraph (a)(1) of Rule 485

__X__ on May 1, 1997 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. THE RULE 24F-2
NOTICE FOR THE REGISTRANT'S MOST RECENT FISCAL YEAR WAS FILED ON OR ABOUT
FEBRUARY 28, 1997.

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CROSS REFERENCE SHEET
PURSUANT TO RULE 495(a)
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N-4 Item No. Prospectus Heading
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PART A - 12 YEAR CONTINGENT DEFERRED SALES CHARGE

1. Cover Page Cover Page

2. Definitions Glossary of Special Terms

3. Synopsis or Highlights Summary

4. Condensed Financial Information Accumulation Unit Values

5. General Description of Registrant, The Contracts and the Separate Accounts;
Depositor, and Portfolio Companies Hartford Life Insurance Company and the
Funds; Miscellaneous

6. Deductions Charges Under the Contract

7. General Description of Variable Operation of the Contract; Payment of
Annuity Contracts Benefits; The Contracts and the Separate Accounts

8. Annuity Period Payment of Benefits

9. Death Benefit Payment of Benefits; Operation of the Contract

10. Purchases and Contract Value Operation of the Contract

11. Redemptions Payment of Benefits

12. Taxes Federal Tax Considerations

13. Legal Proceedings Miscellaneous - Are there any material legal
proceedings affecting the Separate Accounts?

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

PART B

15. Cover Page Part B; Statement of Additional Information

16. Table of Contents Table of Contents

17. General Information and History Introduction

18. Services None

19. Purchase of Securities Distribution of Contracts being Offered

20. Underwriters Distribution of Contracts

21. Calculation of Performance Data Calculation of Yield and Return

22. Annuity Payments Annuity Benefits

23. Financial Statements Financial Statements

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PART A - 7 YEAR CONTINGENT DEFERRED SALES CHARGE

1. Cover Page Cover Page

2. Definitions Glossary of Special Terms

3. Synopsis or Highlights Summary

4. Condensed Financial Information Accumulation Unit Values

5. General Description of Registrant, The Contracts and the Separate Accounts;
Depositor, and Portfolio Companies Hartford Life Insurance Company and the
Funds; Miscellaneous

6. Deductions Charges Under the Contract

7. General Description of Variable Operation of the Contract; Payment of
Annuity Contracts Benefits; The Contracts and the Separate Accounts

8. Annuity Period Payment of Benefits

9. Death Benefit Payment of Benefits; Operation of the Contract

10. Purchases and Contract Value Operation of the Contract

11. Redemptions Payment of Benefits

12. Taxes Federal Tax Considerations

13. Legal Proceedings Miscellaneous - Are there any material legal
proceedings affecting the Separate Accounts?

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

<PAGE>

PART B

15. Cover Page Part B; Statement of Additional Information

16. Table of Contents Table of Contents

17. General Information and History Introduction

18. Services None

19. Purchase of Securities Distribution of Contracts being Offered

20. Underwriters Distribution of Contracts

21. Calculation of Performance Data Calculation of Yield and Return

22. Annuity Payments Annuity Benefits

23. Financial Statements Financial Statements

PART C

24. Financial Statements and Exhibits Financial Statements and Exhibits

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

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

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PART A

12-year Contingent Deferred Sales Charge

<PAGE>

HARTFORD
LIFE INSURANCE COMPANY
GROUP VARIABLE ANNUITY CONTRACTS
ISSUED BY HARTFORD
LIFE INSURANCE COMPANY
WITH RESPECT TO DC-I AND DC-II
[LOGO]

The variable annuity contracts (hereinafter the "contract" or "contracts" or
"Master Contracts") described in this Prospectus are issued by Hartford Life
Insurance Company ("Hartford"). The contracts provide for both an Accumulation
Period and an Annuity Period.

The contracts are issued in conjunction with Deferred Compensation Plans of
tax-exempt and governmental employers. Variable account Contributions are held
in Hartford Life Insurance Company DC Variable Account-I ("DC-I") during the
Accumulation Period and in a series of Hartford Life Insurance Company
Separate Account Two ("DC-II") during the Annuity Period.

The contracts to which Contributions may be made may contain a General
Account option or a separate General Account contract may be issued in
conjunction with the contracts described herein. The General Account option or
contract may contain restrictions on a Contract Owner's ability to transfer
Participant Account Values to or from such contract or option. The General
Account option or contract and these restrictions, if any, are not described
in this Prospectus.

The following Sub-Accounts are available under the contracts. Opposite each
Sub-Account is the name of the underlying investment for that Account.

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Advisers Fund Sub-Account - shares of Hartford Advisers Fund, Inc. ("Advisers Fund")
Bond Fund Sub-Account - shares of Hartford Bond Fund, Inc. ("Bond Fund")
Calvert Responsibly Invested Balanced Fund - shares of Calvert Responsibly Invested Balanced Portfolio of
Sub-Account Acacia Capital Corporation ("Calvert Responsibly Invested
Balanced Fund")
Capital Appreciation Fund Sub-Account - shares of Hartford Capital Appreciation Fund, Inc. ("Capital
Appreciation Fund")
Dividend and Growth Fund Sub-Account - shares of Hartford Dividend and Growth Fund, Inc. ("Dividend
Sub-Account and Growth Fund")
Index Fund Sub-Account - shares of Hartford Index Fund, Inc. ("Index Fund")
International Opportunities Fund - shares of Hartford International Opportunities Fund, Inc.
Sub-Account ("International Opportunities Fund")
Money Market Fund Sub-Account - shares of HVA Money Market Fund, Inc. ("Money Market Fund")
Mortgage Securities Inc. Fund Sub-Account - shares of Hartford Mortgage Securities Fund ("Mortgage
Securities Fund")
Stock Fund Sub-Account - shares of Hartford Stock Fund, Inc. ("Stock Fund")
</TABLE>

This Prospectus sets forth the information concerning the Separate Account
that investors ought to know before investing. This Prospectus should be kept
for future reference. Additional information about the Separate Account has
been filed with the Securities and Exchange Commission and is available
without charge upon request. To obtain the Statement of Additional Information
send a written request to Hartford Life Insurance Company, Attn: RPVA
Administration, P.O. Box 2999, Hartford, CT 06104-2999. The Table of Contents
for the Statement of Additional Information may be found on page 28 of this
Prospectus. The Statement of Additional Information is incorporated by
reference to this Prospectus.

------------------------------------------------------------------------------
THESE SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE SECURITIES AND
EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION NOR HAS THE SECURITIES
AND EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION PASSED UPON THE
ACCURACY OR ADEQUACY OF THIS PROSPECTUS. ANY REPRESENTATION TO THE CONTRARY IS
A CRIMINAL OFFENSE.

THIS PROSPECTUS IS NOT VALID UNLESS ATTACHED TO THE CURRENT PROSPECTUS OF
THE APPLICABLE ELIGIBLE FUNDS LISTED ABOVE WHICH CONTAINS A FULL DESCRIPTION
OF THOSE FUNDS. INVESTORS ARE ADVISED TO RETAIN THESE PROSPECTUSES FOR FUTURE
REFERENCE.
------------------------------------------------------------------------------

Prospectus Dated: May 1, 1997
Statement of Additional Information Dated: May 1, 1997

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TABLE OF CONTENTS

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PAGE
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GLOSSARY OF SPECIAL TERMS............................................... 3
FEE TABLE............................................................... 5
SUMMARY................................................................. 6
ACCUMULATION UNIT VALUES................................................ 8
PERFORMANCE RELATED INFORMATION......................................... 9
INTRODUCTION............................................................ 9
THE CONTRACTS AND THE SEPARATE ACCOUNTS................................. 10
What are the contracts?............................................. 10
Who can buy these contracts?........................................ 10
What are the Separate Accounts and how do they operate?............. 10
OPERATION OF THE CONTRACT............................................... 11
How are Contributions credited?..................................... 11
May I make changes in the amounts of my Contribution?............... 11
May I transfer assets between Sub-Accounts?......................... 11
What happens if the Contract Owner fails to make Contributions?..... 12
May I assign or transfer the contract?.............................. 12
How do I know what my account is worth?............................. 12
How is the Accumulation Unit value determined?...................... 13
How are the underlying Fund shares valued?.......................... 13
PAYMENT OF BENEFITS..................................................... 13
What would my Beneficiary receive as death proceeds?................ 13
How can a contract be redeemed or surrendered?...................... 13
Can payment of the redemption or surrender value ever be postponed
beyond
the seven day period?.............................................. 14
May I surrender once Annuity payments have started?................. 14
Are there differences in the contract related to the type of plan in
which
the Participant is enrolled?....................................... 14
Can a contract be suspended by a Contract Owner?.................... 14
How do I elect an Annuity Commencement Date and Form of Annuity?.... 15
What is the minimum amount that I may select for an Annuity
payment?........................................................... 15
How are Contributions made to establish my Annuity account?......... 15
What are the available Annuity Options under the contracts?......... 15
How are Variable Annuity payments determined?....................... 16
Can a contract be modified?......................................... 17
CHARGES UNDER THE CONTRACT.............................................. 18
How are the charges under these contracts made?..................... 18
Is there ever a time when the sales charges do not apply?........... 18
What do the sales charges cover?.................................... 18
What is the mortality, expense risk and administrative charge?...... 18
Experience Rating of Contracts...................................... 19
How much are the deductions for Premium Taxes on these contracts?... 19
What charges are made by the Funds?................................. 19
Are there any other deductions?..................................... 20
HARTFORD LIFE INSURANCE COMPANY AND THE FUNDS........................... 20
What is Hartford?................................................... 20
What are the Funds?................................................. 20
Does Hartford have any interest in the Funds?....................... 22
</TABLE>

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FEDERAL TAX CONSIDERATIONS.............................................. 22
What are some of the federal tax consequences which affect these
contracts?......................................................... 22
MISCELLANEOUS........................................................... 26
What are my voting rights?.......................................... 26
Will other contracts be participating in the Separate Accounts?..... 26
How are the contracts sold?......................................... 26
Who is the custodian of the Separate Accounts' assets?.............. 26
Are there any material legal proceedings affecting the Separate
Accounts?.......................................................... 27
Are you relying on any experts as to any portion of this
Prospectus?........................................................ 27
How may I get additional information?............................... 27
TABLE OF CONTENTS FOR STATEMENT OF ADDITIONAL INFORMATION............... 28
</TABLE>

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GLOSSARY OF SPECIAL TERMS

ACCUMULATION PERIOD: The period before the commencement of Annuity payments.

ACCUMULATION UNIT: An accounting unit of measure used to calculate values before
Annuity payments begin.

ANNUITANT: A Participant on whose behalf Annuity payments are to be made under a
contract.

ANNUITANT'S ACCOUNT: An account established at the commencement of the Annuity
Period under which Annuity payments are made under the contracts.

ANNUITY: A series of payments for life, or for life with a minimum number of
payments or a determinable sum guaranteed, or for a joint lifetime and
thereafter during the lifetime of the survivor, or for payments for a designated
period.

ANNUITY COMMENCEMENT DATE: The date on which Annuity payments are to commence.

ANNUITY PERIOD: The period following the commencement of Annuity payments.

ANNUITY RIGHTS: The Contract Owner's right in situations where the contract is
issued in conjunction with a Deferred Compensation Plan to apply up to five
times the gross Contributions made to the contract during the Accumulation
Period (in DC-I only), at the Annuity rates set forth in the contract at the
time of issue, at the commencement of the Annuity Period to effect Annuity
payments.

ANNUITY UNIT: An accounting unit of measure in the Separate Account used to
calculate the amount of Variable Annuity payments.

BENEFICIARY: The person(s) designated to receive contract values in the event of
the Participant's or Annuitant's death.

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

COMMISSION: Securities and Exchange Commission.

CONTRACT OWNER: The Employer or entity owning the contract.

CONTRACT YEAR: A period of 12 months commencing with the effective date of the
contract or with any anniversary thereof.

CONTRIBUTION(S): The amount(s) paid or transferred to Hartford by the Contract
Owner on behalf of Participants pursuant to the terms of the contracts.

DATE OF COVERAGE: The date on which the application on behalf of a Participant
is received by Hartford.

DC VARIABLE ACCOUNT I: Hartford Life Insurance Company DC Variable Account-I.

DC VARIABLE ACCOUNT II: A series of Hartford Life Insurance Company Separate
Account Two.

DEFERRED COMPENSATION PLAN: A plan established and maintained in accordance with
the provisions of Section 457 of the Internal Revenue Code and the regulations
issued thereunder.

EMPLOYER: A governmental or tax-exempt Employer maintaining a Deferred
Compensation Plan for its Employees.

FIXED ANNUITY: An Annuity providing for guaranteed payments which remain fixed
in amount throughout the payment period and which do not vary with the
investment experience of a separate account.

FUNDS: Currently, the Funds described commencing on page 20 of this Prospectus.

GENERAL ACCOUNT: The General Account of Hartford in which consists of all assets
of Hartford other than those allocated to the separate accounts of Hartford.

HARTFORD: Hartford Life Insurance Company.

MINIMUM DEATH BENEFIT: The minimum amount payable upon the death of a
Participant prior to age 65 and before Annuity payments have commenced.

PARTICIPANT: A term used to describe, for record keeping purposes only, any
Employee electing to participate in the Deferred Compensation of the
Employer/Contract Owner.

PARTICIPANT'S CONTRACT YEAR: A period of twelve (12) months commencing with the
Date of Coverage of a Participant and each successive 12 month period
thereafter.

PARTICIPANT'S INDIVIDUAL ACCOUNT: An account to which the General Account values
and the Separate Account Accumulation Units held by the Contract Owner on behalf
of Participant under the contract are allocated.

PLAN: The Deferred Compensation Plan of an Employer.

PREMIUM TAX: A tax charged by a state or municipality on premiums, purchase
payments or contract values.

3
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SEPARATE ACCOUNT: The Account entitled Hartford Life Insurance Company DC
Variable Account-I ("DC-I") and a series of Hartford Life Insurance Company
Separate Account Two ("DC-II").

SUB-ACCOUNT: Accounts established within the Separate Account with respect to a
Fund.

VALUATION DAY: Every day the New York Stock Exchange is open for trading. The
value of the Separate Account is determined at the close of the New York Stock
Exchange (currently 4:00 p.m. Eastern Time) on such days.

VALUATION PERIOD: The period between successive Valuation Days.

VARIABLE ANNUITY: An Annuity providing for payments varying in amount in
accordance with the investment experience of the assets held in the underlying
securities of the Separate Account.

4
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FEE TABLE

SUMMARY
CONTRACT OWNER TRANSACTION EXPENSES
(ALL SUB-ACCOUNTS)

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<S> <C>
Sales Load Imposed on Purchases (as a percentage of premium payments..................... None
Transfer Fee............................................................................. $ 0
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, and Mortality and
Expense Risk charge may be reduced or eliminated. See "Experience Rating of
Contracts" on page 19.

- ---------

(1) The Mortality and Expense Risk charge under DC Variable Account-I is 0 .750%
of the average daily net assets of DC-I where contract values which exceed
fifty million dollars.

ANNUAL FUND OPERATING EXPENSES
(AS A PERCENTAGE OF NET ASSETS)

[TO BE PROVIDED BY AMENDMENT]

EXAMPLE -- DCI [TO BE PROVIDED BY AMENDMENT]

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.

EXAMPLE -- DCII [TO BE PROVIDED BY AMENDMENT]

This EXAMPLE should not be considered a representation of past or future
expenses and actual expenses may be greater or less than those shown.

5
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SUMMARY

A. CONTRACTS OFFERED

Group contracts are issued in conjunction with a Deferred Compensation Plan.

B. ACCUMULATION PERIOD UNDER THE CONTRACTS

During the Accumulation Period under the contracts, Contributions made by
the Employer to the contracts are used to purchase variable account interests.
Contributions allocated to purchase variable interests may, after the deductions
described hereafter, be invested in selected Sub-Accounts of DC-I or DC-II, as
appropriate.

C. CONTINGENT DEFERRED SALES CHARGES

No deduction for sales expense is made at the time of allocation of
Contributions to the contracts. A deduction for contingent deferred sales
charges is made if there is any surrender of contract values during the first 12
Participant Contract Years. During the first 6 years thereof, a maximum
deduction of 5% will be made against the full amount of any such surrender.
During the next 2 years thereof, a maximum deduction of 4% will be made against
the full amount of any such surrender. During the next 2 years thereof, a
maximum deduction of 3% will be made against the full amount of any such
surrender. During the next 2 years thereof, a maximum deduction of 2% will be
made against the full amount of any such surrender. Such charges will in no
event exceed 8.50% when applied as a percentage against the sum of all
Contributions to a Participant's Individual Account. The amount or term of the
contingent deferred sales charge may be reduced (see "Experience Rating of
Contracts", page 19).

No deduction for contingent deferred sales charges will be made in certain
cases. (See "Is there ever a time when the sales charges do not apply?"
commencing on page 18.)

Hartford reserves the right to limit any increase in the Contributions made
to a Participant's Individual Account under any contract to no more than three
times the total Contributions made on behalf of such Participant during the
initial 12 consecutive months following the Date of Coverage. Increases in
excess of those described will be accepted only with the consent of Hartford and
subject to the then current deductions being made under the contracts.

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 11).

E. ANNUITY PERIOD UNDER THE CONTRACTS

Contract values held with respect to Participants' Individual Accounts with
respect to DC-I or DC-II, as appropriate, at the end of the Accumulation Period
(and any additional Contributions that a Deferred Compensation Plan Contract
Owner (DC-I, only) elects to make at the commencement of the Annuity Period)
will, at the direction of the Contract Owner, be allocated to establish
Annuitants' Accounts to provide Fixed and/or Variable Annuities under the
contracts.

F. MINIMUM DEATH BENEFITS

A Minimum Death Benefit is provided in the event of death of the Participant
under a Participant's Individual Account prior to the earlier of the
Participant's 65th birthday or the Annuity Commencement Date. (see "What would
my Beneficiary receive as death proceeds?" commencing on page 13.)

G. ANNUITY OPTIONS

The Annuity Commencement Date will not be deferred beyond the Participant's
75th birthday or such earlier date as may be required by applicable law and/or
regulation. If a Contract Owner does not elect otherwise, Hartford reserves the
right to begin Annuity payments automatically at age 75 under an option

6
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providing for a life Annuity with 120 monthly payments certain. (see "What are
the available Annuity Options under the contracts?" commencing on page 15.)
However, Hartford will not assume responsibility in determining or monitoring
minimum distributions beginning at age 70 1/2.

H. DEDUCTIONS FOR PREMIUM TAXES

Deductions will be made during the Accumulation Period and Annuity Period,
as appropriate, for the payment of any Premium Taxes that may be levied against
the contract by a state or other governmental entity. The range is generally
between 0% and 3.50%. (see "Charges Under The Contract" on page 18.)

I. ASSET CHARGE IN THE SEPARATE ACCOUNT

During both the Accumulation Period and the Annuity Period a charge is made
by Hartford for providing the mortality, expense, and administrative costs 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 costs) 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 costs) 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 costs) 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 19). The rate charged for the expense, mortality and
administrative costs may be periodically increased by Hartford 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 18.)

J. FUND FEES AND CHARGES

The Funds are subject to certain fees, charges and expenses. See the
accompanying Prospectus for the Funds.

K. MINIMUM PAYMENT

The minimum Contribution that may be made each month on behalf of a
Participant's Individual Account under a contract is $30.00 unless the
Employer's plan provides otherwise.

L. PAYMENT ALLOCATION TO THE SEPARATE ACCOUNTS

The contracts permit the allocation of Contributions, in multiples of ten
percent of each Contribution among the several Sub-Accounts of the Separate
Accounts. The minimum amount that may be allocated to or invested in
Accumulation Units of any Sub-Account in a Separate Account shall not be less
than $10.00.

M. VOTING RIGHTS OF CONTRACT OWNERS

Contract Owners and/or vested Participants will have the right to vote on
matters affecting the underlying Fund to the extent that proxies are solicited
by such Fund. If a Contract Owner does not vote, Hartford shall vote such
interest in the same proportion as shares of the Fund for which instructions
have been received by Hartford (see "What are my voting rights?" commencing on
page 25).

7
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ACCUMULATION UNIT VALUES

[To be Provided by Amendment]

8
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PERFORMANCE RELATED INFORMATION

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

The Advisers Fund, Bond Fund, Calvert Responsibly Invested Balanced Fund,
Capital Appreciation Fund, Dividend and Growth Fund, Index Fund, International
Opportunities Fund, Money Market Fund, Mortgage Securities Fund, and Stock Fund
Sub-Accounts may include total return in advertisements or other sales material.

When a Sub-Account advertises its standardized total return, it will usually
be calculated for one year, five years, and ten years or some other relevant
periods if the Sub-Account has not been in existence for at least 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 (assuming the deduction of any contingent
deferred sales charge which would be payable if the investment were redeemed at
the end of the period). Total return figures are not of all Fund level
management fees and charges, the mortality and expense risk charge and the
Annual Contract Fee.

The Bond Fund and Mortgage Securities Fund Sub-Accounts 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 30 day period is
divided by the unit value on the last day of the period. This figure reflects
the recurring charges on the Separate Account level including the Annual
Contract Fee and the mortality and expense risk charge.

The Money Market Fund Sub-Account may advertise yield and effective yield.
The yield of the Sub-Account is based upon the income earned by the Sub-Account
over a seven-day period and then annualized, i.e. the income earned in the
period is assumed to be earned every seven 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 on the Separate Account
level including the Annual Contract Fee and the mortality and expense risk
charge.

Total return at the Separate Account level includes all contract charges:
contingent deferred sales charges, mortality and expense risk charges, and the
Annual Contract Fee and is therefore lower than total return at the Fund level,
with no comparable charges. Likewise, yield at the Separate Account level
includes all recurring charges (except sales charges), and is therefore lower
than yield at the Fund level, with no comparable charges.

INTRODUCTION

This Prospectus has been designed to provide you with the necessary
information to make a decision on purchasing contracts issued in conjunction
with a Deferred Compensation Plan of an Employer offered by Hartford in a
Separate Account. This Prospectus describes only the elements of the contracts
pertaining to the variable portion of the contract. The contracts may contain a
General Account option which is not described in this Prospectus. Please read
the Glossary of Special Terms on pages and prior to reading this Prospectus to
familiarize yourself with the terms being used.

9
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THE CONTRACTS AND
THE SEPARATE ACCOUNTS

WHAT ARE THE CONTRACTS?

The Contracts are issued in conjunction with a Deferred Compensation Plan of
an Employer. Variable account Contributions are held in Hartford Life Insurance
Company DC Variable Account-I ("DC-I") during the Accumulation Period and in a
series of Hartford Life Insurance Company Separate Account Two ("DC-II") during
the Annuity Period.

Deferred Compensation Plans provide a way for an Employer and its Employees
to arrange for eligible employees to defer a certain portion of their income
("Deferred Compensation") to a determinable future date and thereby defer
current federal income taxes on such deferred compensation until actually
received by the Employee according to the terms of the Employer's Plan. An
Employer contemplating the offering of such a Plan should consult with its legal
counsel with respect to any securities aspects of interest in such Plans. At all
times, the Employer is the sole and exclusive owner of the contract issued with
respect to the Plan. An Employee electing to participate in the Employer's Plan
is, at all times, a general creditor of the Employer establishing the Plan.

The Small Business Job Protection Act of 1996, effective August20, 1996,
requires that all assets and income of an eligible Deferred Compensation Plan
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 rulesapply to such governmental Deferred
Compensation Plans already in existence on August20, 1996, and provide that such
Plans need not establish a trust before January1, 1999.

WHO CAN BUY THESE CONTRACTS?

The group variable annuity contracts offered under this Prospectus are for
use in connection with certain eligible deferred compensation plans as defined
in Section 457 of the Internal Revenue Code.

WHAT ARE THE SEPARATE ACCOUNTS AND HOW DO THEY OPERATE?

Provision has been made for two different Separate Accounts (DC-I and a
series of Separate Account Two (DC-II)), to be operative during the life of the
contracts which are issued in conjunction with Deferred Compensation Plans. This
arrangement provides for tax treatment of DC-I which may provide tax advantages
to Deferred Compensation Plan Contract Owners. (see "Federal Tax
Considerations," commencing on page 22.) The Separate Accounts meet the
definition of "separate account" under federal securities law.

Registration of the Separate Accounts with the Commission does not involve
supervision of the management or investment practices or policies of the
Separate Account or of Hartford by the Commission. However, Hartford and the
Separate Accounts are subject to supervision and regulation by the Department of
Insurance of the State of Connecticut.

Under Connecticut law, the assets of the Separate Accounts 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. Also, in
accordance with the contracts, the assets in the Separate Accounts attributable
to contracts participating in the Separate Accounts are not chargeable with
liabilities arising out of any other business Hartford may conduct. So, you will
not be affected by the rate of return of Hartford's general account, nor by the
investment performance of any of Hartford's other separate accounts.

10
<PAGE>
Accumulation Period will therefore vary in accordance with the net income and
fluctuation in the individual investments within the underlying Fund portfolio
or portfolios. During the Variable Annuity payout period, both your annuity
payments and reserve values will vary in accordance with these factors.

HARTFORD DOES NOT GUARANTEE THE INVESTMENT RESULTS OF THE SUB-ACCOUNTS OR
ANY OF THE UNDERLYING INVESTMENTS. 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 SUM OF ALL CONTRIBUTIONS 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 FUND PROSPECTUS.

Hartford reserves the right, subject to compliance with the law, to
substitute the shares of any other registered investment company for the shares
of any Fund held by the Separate Account. Substitution may occur if shares of
the Fund(s) become unavailable or due to changes in applicable law or
interpretations of law. Current law requires notification to you of any such
substitution and approval of the Securities and Exchange Commission.

Hartford also reserves the right, subject to compliance with the law to
offer additional Sub-Accounts with differing investment objectives.

The Separate Accounts may be subject to liabilities arising from series
whose assets are attributable to other variable annuity contracts or variable
life insurance policies offered by the Separate Account which are not described
in this Prospectus.

Hartford may offer additional separate account options from time to time
under these contracts. Such new options will be subject to the then in effect
charges, fees, and or transfer restrictions for the contracts for such
additional separate accounts.

OPERATION OF THE CONTRACT

HOW ARE CONTRIBUTIONS CREDITED?

A group contract is issued to an Employer adopting a Plan and will cover all
present and future Participants in the Employer's Plan. Contracts provide for
variable (Separate Account) Contributions and allocations to the General Account
during the Accumulation Period.

The number of Accumulation Units purchased is determined by dividing the
Contribution amount by the appropriate Accumulation Unit Value on the date the
Contribution is credited to the Participant's Individual Account. Initial
Contributions are credited to a Participant's Individual Account within two days
of receipt of a properly completed application and the initial Contribution.
Subsequent Contributions are credited to a Participant's Individual Account on
the date following receipt of the Contribution by Hartford at its home office,
P.O. Box 2999, Hartford, CT 06104-2999 (or other address as directed). If an
application or any other information is incomplete when received, Contributions
will be credited to the Participant's Individual Account within five business
days. If an initial contribution is not credited within five business days, it
will be immediately returned unless you have been informed of the delay and
request that the Contribution not be returned. Subsequent payments cannot be
credited on the same day of receipt unless they are accompanied by adequate
instructions.

The number of Sub-Account Accumulation Units will not change because of a
subsequent change in an Accumulation Unit's value, but the dollar value of an
Accumulation Unit will vary to reflect the investment experience of the
appropriate Fund shares that serve as the underlying investment for the
Sub-Account.

MAY I MAKE CHANGES IN THE AMOUNTS OF MY CONTRIBUTION?

Yes, however the minimum Contribution that may be made at any one time on
behalf of a Participant during the Accumulation Period under a contract is $30
unless the Employer's Plan provides otherwise. If the Plan adopted by the
Contract Owner so provides, the contract permits the allocation of
Contributions, in multiples of 10% among the several Sub-Accounts of the
Separate Accounts. The minimum amount that may be allocated to any Sub-Account
in a Separate Account shall not be less than $10. Such changes must be requested
in the form and manner prescribed by Hartford.

11
<PAGE>
MAY I TRANSFER ASSETS BETWEEN SUB-ACCOUNTS?

Yes, during the Accumulation Period you may transfer the values of your
Sub-Account allocations from one or more Sub-Accounts to another.

The following transfer restrictions apply to contracts issued or amended on
or after May 1, 1992.

Transfers of assets presently held in the General Account, or which were
held in the General Account at any time during the preceding three months, to
the Money Market Fund Sub-Account, or to any money market sub-account
established in the future, are prohibited.

Similarly, transfers of assets presently held in the Money Market Fund
Sub-Account, or any money market sub-account established in the future, or which
where held in any of these Sub-Accounts during the preceding three months, to
the General Account are prohibited.

Transfers between Sub-Accounts and changes in Sub-Account allocations may be
made by written request or by calling 1-800-528-9009. Any transfers or changes
made in writing will be effected as of the date the request is received by
Hartford at its home office, P.O. Box 2999, Hartford, CT 06104-2999. The policy
of Hartford 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. Hartford will employ reasonable procedures to confirm that
instructions communicated by telephone are genuine; otherwise Hartford may be
liable for any losses due to unauthorized or fraudulent instructions. The
procedures Hartford follows for transactions initiated by telephone include
requirements that Participant's provide certain identifying information. All
transfer instructions by telephone are recorded.

In addition, the right, with respect to a Participant's Individual Account,
to transfer monies between Sub-Accounts is subject to modification if Hartford
determines, in its sole opinion, that the exercise of that right by the Contract
Owner/Participant is, or would be, to the disadvantage of other Contract
Owners/Participants. Any modification could be applied to transfers to or from
the same or all of the Accounts 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 Participant or Contract Owner, or limiting the dollar amount that may
be transferred between Sub-Accounts by a Contract Owner/ Participant 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 Hartford to be to
the disadvantage of other Contract Owners/ Participants.

WHAT HAPPENS IF THE CONTRACT OWNER FAILS TO MAKE CONTRIBUTIONS?

A contract will be deemed paid-up within 30 days after any anniversary date
of the contract if the Contract Owner has not remitted a Contribution to
Hartford during the preceding 12 month period. Effective with a change of the
contract to paid-up status, no further Contributions will be accepted by
Hartford and each Participant's Individual Account will be considered an
inactive account until the commencement of Annuity payments or until the value
of the Participant's Individual Account is disbursed or applied in accordance
with the termination provisions. (See "How can a contract be redeemed or
surrendered?" page 13). Once a contract has been placed on a paid-up status it
may not be reinstated. Persons receiving Annuity payments at the time of any
change to paid-up status will continue to receive their payments.

MAY I ASSIGN OR TRANSFER THE CONTRACT?

The group contracts issued with respect to Deferred Compensation Plans may
be assigned by the Contract Owner. No assignment will be effective until a copy
has been filed at the offices of Hartford at Hartford, Connecticut, prior to
settlement for Hartford's liability under the contract. Hartford assumes no
responsibility for the validity of any such assignments. Participants may not
assign their individual account interests.

HOW DO I KNOW WHAT MY ACCOUNT IS WORTH?

The value of the Accumulation Units in a Separate Account representing an
interest in the appropriate Fund shares that are held under the contract were
initially established on the date that Contributions were first contributed to
the appropriate Sub-Account of the Separate Account. The value of the respective
Accumulation Units for any subsequent day is determined by multiplying the
Accumulation Unit value for the preceding day by the net investment factor of
the appropriate Sub-Account, as appropriate (see "How is the Accumulation Unit
value determined?" below).

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<PAGE>
The value of a Participant's Individual Account under a contract at any time
prior to the commencement of Annuity payments can be determined by multiplying
the total number of Sub-Account Accumulation Units credited to a Participant's
Individual Account by the current Accumulation Unit value for the respective
Sub-Account. There is no assurance that the value in the Sub-Accounts will equal
or exceed the Contributions made by the Contract Owner to such Sub-Accounts.

HOW IS THE ACCUMULATION UNIT VALUE DETERMINED?

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 the net asset value per share of the
corresponding Fund at the end of the Valuation Period (plus the per share amount
of any dividends or capital gains 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 and subtracting from
that amount the amount of any charges assessed during the Valuation Period then
ending. You should refer to the Prospectuses for each of the Funds which
accompany 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.

HOW ARE THE UNDERLYING FUND SHARES VALUED?

The shares of the Fund are valued at net asset value on a daily basis. A
complete description of the valuation method used in valuing Fund shares may be
found in the accompanying Prospectus of each Fund.

PAYMENT OF BENEFITS

WHAT WOULD MY BENEFICIARY RECEIVE AS DEATH PROCEEDS?

The contracts provide that in the event the Participant dies before the
selected Annuity Commencement Date or the Participant's age 65 (whichever occurs
first) the Minimum Death Benefit payable on such contract will be the greater of
(a) the value of the Participant's Individual Account determined as of the day
written proof of death of such person is received by Hartford, or (b) 100% of
the total Contributions made to such Account, reduced by any prior partial
surrenders.

The benefit may be taken by the Contract Owner in a single sum, in which
case payment will be made within seven days of receipt of proof of death by
Hartford, unless subject to postponement as explained below. In lieu of payment
in one sum, a Contract Owner may elect that the amount be applied, subject to
the suspension provisions described below, under any one of the optional Annuity
forms provided under DC-II (see "What are the available Annuity options under
the contracts?" commencing on page 15) to provide Annuity payments to the
Beneficiary.

An election to receive death benefits under a form of Annuity must be made
prior to a lump sum settlement with Hartford and within one year after the death
by written notice to Hartford at its offices in Hartford, Connecticut. Benefit
proceeds due on death may be applied to provide variable payments, fixed
payments, or a combination of variable and fixed payments. No election to
provide Annuity payments will become operative unless the initial Annuity
payment is at least $20.00 on either a variable or fixed basis, or $20.00 on
each basis when a combination benefit is elected. The manner in which the
Annuity payments are determined and in which they may vary from month to month
are the same as applicable to a Participant's Individual Account after
retirement (see "How are Contributions made to establish my Annuity account?"
page 15).

HOW CAN A CONTRACT BE REDEEMED OR SURRENDERED?

On termination of Contributions to a contract by the Contract Owner on
behalf of a Participant prior to the selected Annuity Commencement Date for such
Participant, the Contract Owner will have the following options:

1. To continue a Participant's Individual Account in force under the
contract. Under this option, when the selected Annuity Commencement Date
arrives, the Contract Owner will begin to receive Annuity payments

13
<PAGE>
under the selected Annuity option under the contract. (See "What are the
available Annuity options under the contracts?" commencing on page 15.) At any
time in the interim, a Contract Owner may surrender a Participant's Individual
Account for a lump sum cash settlement in accordance with 3. below.

2. To provide Annuity payments immediately. The values in a Participant's
Individual Account may be applied, subject to contractual provisions, to provide
for Fixed or Variable Annuity payments, or a combination thereof, commencing
immediately, under the selected Annuity option under the contract. (See "What
are the available Annuity options under the contracts?" commencing on page 15.)

3. To surrender a Participant's Individual Account under the contract for a
lump sum cash settlement, in which event any applicable contingent deferred
sales charges will be deducted. (See "How are the charges under these contracts
made?" commencing on page 18.) The amount received will be the net termination
value next computed after receipt by Hartford at its home office, P.O. Box 2999,
Hartford, CT 06104-2999, of a written surrender request for complete surrender.
Payment will normally be made as soon as possible but not later than seven days
after the written request is received by Hartford.

4. In the case of a partial surrender the amount requested is either taken
out of the specified Sub-Account(s) or if no Sub-Account(s) are specified, the
requested amount is taken out of all applicable Sub-Account(s) on a PRO RATA
basis. Within this context, the contingent deferred sales charges are taken as a
percentage of the amount withdrawn (see "How are the charges under these
contracts made?" page 18). If the contingent deferred sales charges have been
experience rated (see "How are the charges under these contracts made?", page
18), any amounts not subject to the contingent deferred sales charge will be
deemed to be surrendered last.

CAN PAYMENT OF THE REDEMPTION OR SURRENDER VALUE EVER BE POSTPONED BEYOND THE
SEVEN DAY PERIOD?

Yes. It may be postponed 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 Securities and Exchange Commission; (b) the
Securities and Exchange Commission permits postponement and so orders; or (c)
the Securities and Exchange Commission determines that an emergency exists
making valuation of the amounts or disposal of securities not reasonably
practicable.

MAY I SURRENDER ONCE ANNUITY PAYMENTS HAVE STARTED?

Except with respect to Option 5 (on a variable payout), once Annuity
payments have commenced for an Annuitant, no surrender of a life Annuity benefit
can be made for the purpose of receiving a partial withdrawal or a lump sum
settlement in lieu thereof. Any surrender out of Option 5 will be subject to
contingent deferred sales charges, if applicable.

ARE THERE DIFFERENCES IN THE CONTRACT RELATED TO THE TYPE OF PLAN IN WHICH THE
PARTICIPANT IS ENROLLED?

Annuity Rights are provided under contracts issued only in conjunction with
Deferred Compensation Plans, with respect to DC-I only, entitling the Contract
Owner to have Annuity payments at the rates set forth in the contract at the
time of issue. Such rates will be made applicable to all amounts held in a
Participant's Individual Account during the Annuity Period under such contract
which do not exceed five times the gross Contributions made during the
Accumulation Period with respect to such Participant's Individual Account
thereunder. To the extent that the value of a Participant's Individual Account
at the end of the Accumulation Period is insufficient to fund the Annuity Rights
provided, the Contract Owner shall have the right to apply additional
Contributions to the values held in a Participant's Individual Account in order
to exercise all of the Annuity Rights provided. Any amounts in excess thereto
may be applied by Hartford at Annuity rates then being offered by Hartford.

CAN A CONTRACT BE SUSPENDED BY A CONTRACT OWNER?

A contract may be suspended by the Contract Owner by giving written notice
at least 90 days prior to the effective date of such suspension to Hartford at
its home office, P.O. Box 2999, Hartford, Connecticut 06104-2999. A contract
will be suspended automatically on its anniversary if the Contract Owner fails
to assent to any modification of a contract, as described under the caption "Can
a contract be modified?" which modifications would have become effective on or
before that anniversary. Upon suspension, Contributions will continue to be
accepted by Hartford under the contract, and subject to the terms thereof, as
they are

14
<PAGE>
applicable to Participant's Individual Accounts under the contracts prior to
such suspension, but no Contributions will be accepted on behalf of any new
Participant's Individual Accounts. Annuitants at the time of any suspension will
continue to receive their Annuity payments. The suspension of a contract will
not preclude the Contract Owner's applying existing Participant's Individual
Accounts under DC-I or DC-II, as appropriate, to the purchase of Fixed or
Variable Annuity benefits.

HOW DO I ELECT AN ANNUITY COMMENCEMENT DATE AND FORM OF ANNUITY?

The Contract Owner selects an Annuity Commencement Date, usually between a
Participant's 50th and 75th birthdays, and an Annuity Option. The Annuity
Commencement Date may not be deferred beyond a Participant's 75th birthday or
such earlier date as may be required by applicable law and/or regulation. The
Annuity Commencement Date and/or the Annuity option may be changed from time to
time, but any such change must be made at least 30 days prior to the date on
which Annuity payments are scheduled to begin. Annuity payments will normally be
made on the first business day of each month.

The contract contains five optional annuity forms which may be selected on
either a Fixed or Variable Annuity basis, or a combination thereof. If a
Contract Owner does not elect otherwise, Hartford reserves the right to begin
Annuity payments at age 75 under Option 2 with 120 monthly payments certain.
However, Hartford will not assume responsibility in determining or monitoring
minimum distributions beginning at age 70 1/2.

When an Annuity is purchased by a Contract Owner for an Annuitant, unless
otherwise specified, DC-I or DC-II Accumulation Unit values will be applied to
provide a Variable Annuity under DC-II.

WHAT IS THE MINIMUM AMOUNT THAT I MAY SELECT FOR AN ANNUITY PAYMENT?

The minimum Annuity payment is $20.00. No election may be made which results
in a first payment of less than $20.00. If at any time Annuity payments are or
become less than $20.00, Hartford has the right to change the frequency of
payment to intervals that will result in payments of at least $20.00.

HOW ARE CONTRIBUTIONS MADE TO ESTABLISH MY ANNUITY ACCOUNT?

During the Annuity Period, contract values and any allowable additional
Contributions made by the Contract Owner for the purpose of effecting Annuity
payments under the contract (Deferred Compensation Plans Only) are, based upon
the information received from the Contract Owner, applied to establish
Annuitant's Accounts under the contracts to provide Fixed or Variable Annuity
payments.

At the end of the Accumulation Period with respect to a Participant's
Individual Account there is an automatic transfer of all DC-I values to DC-II
which are used to establish Annuitant's Accounts with respect to DC-II. Such
transfer will be effected by a transfer of ownership of DC-I interests in the
underlying securities to DC-II. The value of a Participant's Individual Account
that is transferred to DC-II hereunder will be without application of any sales
charges or other expenses, with the exception of any applicable Premium Taxes.
DC-II values held during the Accumulation Period under a contract are retained
in DC-II.

WHAT ARE THE AVAILABLE ANNUITY OPTIONS UNDER THE CONTRACTS?

OPTION 1: LIFE ANNUITY

A life annuity is an Annuity payable during the lifetime of the Annuitant
and terminating with the last monthly payment preceding the death of the
Annuitant. This option offers the maximum level of monthly payments of any of
the other life annuity options (Options 2-4) since there is no guarantee of a
minimum number of payments nor a 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 due 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

15
<PAGE>

Annuitant, payments have been made for less than the minimum elected number of
months, then any remaining guaranteed monthly payments will be paid to the
Beneficiary or Beneficiaries designated unless other provisions will have been
made and approved by Hartford.

OPTION 3: UNIT REFUND LIFE ANNUITY

This Annuity option is an Annuity payable monthly during the lifetime of the
Annuitant terminating with the last payment due prior to the death of the
Annuitant except that an additional payment will be made to the Beneficiary or
Beneficiaries if (a) below exceeds (b) below:

<TABLE>
<S> <C> <C>
total amount applied under the option at
the Annuity Commencement Date
(a) = --------------------------------------------------
Annuity Unit value at the Annuity Commencement Date
</TABLE>

<TABLE>
<S> <C> <C> <C> <C>
number of Annuity Units represented number of monthly
(b) = by each monthly Annuity Payment made X Annuity Payments made
</TABLE>

The amount of the additional payments will be determined by multiplying such
excess by the Annuity Unit value as of the date that proof of death is received
by Hartford.

OPTION 4: 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.

At the Annuitant's death, payments will continue to be made to the
contingent annuitant, if living for the remainder of the contingent annuitant's
life. When the Annuity is purchased, the Annuitant elects what percentage (50%,
66 2/3%, or 100%) of the monthly Annuity payment will continue to be paid to the
contingent annuitant.

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

OPTION 5: PAYMENTS FOR A DESIGNATED PERIOD

An amount payable monthly for the number of years selected. Under the
contracts the minimum number of years is five.

In the event of the Annuitant's death prior to the end of the designated
period, any then remaining balance of proceeds will be paid in one sum to the
Beneficiary of Beneficiaries designated unless other provisions will have been
made and approved by Hartford. Option 5 is an option that does not involve life
contingencies and thus no mortality guarantee.

Surrenders are subject to the limitations set forth in the contract and any
applicable contingent deferred sales charges. (See "How are charges under these
contracts made?" page 18.)

Under any of the Annuity options above, except Option 5 (on a variable
basis), no surrenders are permitted after Annuity payments commence.

HOW ARE VARIABLE ANNUITY PAYMENTS DETERMINED?

The value of the Annuity Unit for each Sub-Account in the Separate Account
for any day is determined by multiplying the value for the preceding day by the
product of (1) the net investment factor (see "How is the Accumulation Unit
value determined?" commencing on page 13) for the day for which the Annuity Unit
value is being calculated, and (2) a factor to neutralize the assumed net
investment rate discussed below.

When Annuity payments are to commence, the value of the contract is
determined as the product of the value of the Accumulation Unit credited to each
Sub-Account no earlier than the close of business on the fifth business day
preceding the date the first Annuity payment is due and the number of
Accumulation Units credited to each Sub-Account as of the date the Annuity is to
commence.

The first monthly payment varies according to the form of Annuity selected.
The contract cites Annuity tables derived from the 1983a Individual Annuity
Mortality Table with an assumed interest rate ("A.I.R.") of 4.00% or 5.00% per
annum. The total first monthly Annuity payment is determined by multiplying the
value

16
<PAGE>
(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. With respect to fixed annuities only,
the current rate will be applied if it is higher than the rate under the tables
in the contract.

Level Annuity payments would be provided if the net investment rate remained
constant and equal to the A.I.R. In fact, payments will vary up or down in the
proportion that the net investment rate varies up or down from the A.I.R. A
higher A.I.R. may produce a higher initial payment but more slowly rising and
more rapidly falling subsequent payments than would a lower interest rate
assumption.

The amount of the first monthly Annuity payment, determined as described
above, is divided by the value of an Annuity Unit for the appropriate
Sub-Account as of the close of business on the fifth business 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 Period, and in each subsequent month the dollar amount
of the Annuity payment is determined by multiplying this fixed number of Annuity
Units by the then current Annuity Unit value.

The Annuity payments will be made on the date selected. The Annuity Unit
value used in calculating the amount of the Annuity payments will be based on an
Annuity Unit value determined as of the close of business on a day not more than
the fifth business day preceding the date of the Annuity payment.

HERE IS AN EXAMPLE OF HOW A VARIABLE ANNUITY IS DETERMINED:

ILLUSTRATION OF ANNUITY PAYMENTS: (UNISEX) AGE 65, LIFE ANNUITY WITH 120
PAYMENTS CERTAIN

<TABLE>
<C> <S> <C>
1. Net amount applied.............................................. $139,782.50
2. Initial monthly income per $1,000 of payment applied............ 6.13
3. Initial monthly payment (1 X 2 - 1,000)......................... 856.87
4. Annuity Unit Value.............................................. 3.125
5. Number of monthly annuity units (3 DIVIDED BY 4)............... 274.198
6. Assume annuity unit value for second month equal to............. 2.897
7. Second monthly payment (6 X 5).................................. 794.35
8. Assume annuity unit value for third month equal to.............. 3.415
9. Third month payment (8 X 5)..................................... 936.39
</TABLE>

The above figures are simply to illustrate the calculation of a variable
annuity and have no bearing on the actual historical record of any Separate
Account.

CAN A CONTRACT BE MODIFIED?

The contracts may, subject to any federal and state regulatory restrictions,
be modified at any time by written agreement between the Contract Owner and
Hartford. No modification will affect the amount or term of any Annuities begun
prior to the effective date of the modification, unless it is required to
conform the contract to, or give the Contract Owner the benefit of, any federal
or state statutes or any rule or regulation of the U.S. Treasury Department or
Internal Revenue Service.

On or after the fifth anniversary of any contract Hartford may change, from
time to time, any or all of the terms of the contracts by giving 90 days advance
written notice to the Contract Owner, except that the Annuity tables, guaranteed
interest rates and the contingent deferred sales charges which are applicable at
the time a Participant's Individual Account is established under a contract,
will continue to be applicable.

At any time Hartford reserves the right to modify the contract 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
Hartford 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 Hartford will provide notice to
the Contract Owner or to the payee(s) during the Annuity period. Hartford may
also make appropriate endorsement in the contract to reflect such modification.

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<PAGE>
CHARGES UNDER THE CONTRACT

HOW ARE THE CHARGES UNDER THESE CONTRACTS MADE?

No deduction for sales expense is made at the time of allocation of
Contributions to the contracts. A deduction for contingent deferred sales
charges is made if there is any surrender of contract values during the first 12
Participant Contract Years. During the first 6 years thereof, a maximum
deduction of 5% will be made against the full amount of any such surrender.
During the next 2 years thereof, a maximum deduction of 4% will be made against
the full amount of any such surrender. During the next 2 years thereof, a
maximum deduction of 3% will be made against the full amount of any such
surrender. During the next 2 years thereof, a maximum deduction of 2% will be
made against the full amount of any such surrender. Such charges will in no
event ever exceed 8.50% when applied as a percentage against the sum of all
Contributions to a Participant's Individual Account. The amount or term of the
contingent deferred sales charge may be reduced (see "Experience Rating of
Contracts", page 19).

In the case of a redemption in which you request a certain dollar amount be
withdrawn, the sales charge is deducted from the amount withdrawn and the
balance is paid to you. Example: You request a total withdrawal, your account
value is $1,000 and the applicable sales load is 5%. Your Sub-Account(s) will be
surrendered by $1,000 and you will receive $950 (i.e., the $1,000 total
withdrawal less the 5% sales charge). This is the method applicable on a full
surrender of your contract. In the case of a partial redemption in which you
request to receive a specified amount, the sales charge will be calculated on
the total amount that must be withdrawn from your Sub-Account(s) in order to
provide you with the amount requested. Example: You request to receive $1,000
and the applicable sales load is 5%. Your Sub-Account(s) will be reduced by
$1,052.63 (i.e., a total withdrawal of $1,052.63 which results in a $52.63 sales
charge ($1,052.63 X 5%) and a net amount paid to you of $1,000 as requested).

Hartford reserves the right to limit any increase in the Contributions made
to a Participant's Individual Account under any contract to not more than three
times the total Contributions made on behalf of such Participant during the
initial 12 consecutive months following the Date of Coverage. Increases in
excess of those described will be accepted only with the consent of Hartford and
subject to the then current deductions being made under the contracts.

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.

WHAT DO THE SALES CHARGES COVER?

The contingent deferred sales charges, when applicable, will be used to
cover expenses relating to the sale and distribution of the contracts, including
commissions paid to any distribution organization and its sales personnel, the
cost of preparing sales literature and other promotional activities. It is
anticipated that gross commissions paid on the sale of the contracts will not
exceed 5% of a Contribution. To the extent that these charges do not cover such
distribution expenses they will be borne by Hartford from its general assets,
including surplus or possible profit from mortality and expense risk charges.

WHAT IS THE MORTALITY, EXPENSE RISK AND ADMINISTRATIVE CHARGE?

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) Hartford's actual
mortality experience among Annuitants before or after retirement or (b)
Hartford's actual expenses, including certain administrative expenses, if
greater than the deductions provided for in the contracts because of the
mortality and expense undertakings by Hartford.

In providing an expense undertaking with respect to both DC-I and DC-II,
Hartford assumes the risk that the deductions for contingent deferred sales
charges under the contracts may be insufficient to cover the actual future
costs.

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<PAGE>

The mortality undertaking provided by Hartford under the contracts, assuming
the selection of one of the forms of life annuities, is to make monthly Annuity
payments (determined in accordance with the annuity tables and other provisions
contained in the contract) to Contract Owners on Annuitants' Accounts regardless
of how long all Annuitants may live and regardless of how long all Annuitants as
a group may live. This undertaking assures a Contract Owner that neither the
longevity of an Annuitant nor an improvement in life expectancy will have any
adverse effect on the monthly Annuity payments the Employee will receive under
the contract. It thus relieves the Contract Owner from the risk that
Participants in the Plan will outlive the funds accumulated. The mortality
undertaking is based on Hartford's present actuarial determination of expected
mortality rates among all Annuitants.

If actual experience among Annuitants deviates from Hartford's actuarial
determination of expected mortality rates among Annuitants because, as a group,
their longevity is longer than anticipated, Hartford must provide amounts from
its general funds to fulfill its contract obligations. In that event, a loss
will fall on Hartford. Conversely, if longevity among Annuitants is lower than
anticipated, a gain will result to Hartford. Hartford also assumes the liability
for payment of the Minimum Death Benefit provided under the contract.

The administrative undertaking provided by Hartford assures the Contract
Owner that administration will be provided throughout the entire life of the
contract.

For assuming these risks Hartford 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 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 19). The rate charged for the expense, mortality and
administrative undertakings may be periodically increased by Hartford 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.

EXPERIENCE RATING OF CONTRACTS

Certain of the charges and fees described in this Prospectus may be reduced
("experience rated") for contracts depending on some or all of the following
factors: the total number of Participants, the sum of all Participants'
Individual Account values which are allocated to funds managed by affiliates of
Hartford, anticipated present or future expense levels, anticipated present or
future commission levels, and whether or not Hartford is an exclusive annuity
Contract provider. Experience rating of a contract may be discontinued in the
event of a change in the applicable factors. Hartford, in its discretion, may
experience rate a contract (either prospectively or retrospectively) by: (1)
reducing the amount or term of any applicable contingent deferred sales charge,
(2) reducing the mortality, expense and administrative risk charge, or (3) by
any combination of the above. Reductions in these charges will not be unfairly
discriminatory against any person, including the affected
Contractholders/Participants funded by the Separate Account. Experience rating
credits have been given on certain cases. Participants in Contracts receiving
experience rating credits will receive notification regarding any reduction in
charges or fees.

HOW MUCH ARE THE DEDUCTIONS FOR PREMIUM TAXES ON THESE CONTRACTS?

A deduction is also made for Premium Taxes, if applicable, imposed by a
state or other governmental entity. Certain states impose a Premium Tax, ranging
up to 3.50%. On any contract subject to Premium Taxes, Hartford will pay the
taxes when imposed by the applicable taxing authorities. Hartford, at its sole
discretion, will deduct the taxes from Contributions when received, from the
proceeds at surrender, or from the amount applied to effect an Annuity at the
time Annuity payments commence.

WHAT CHARGES ARE MADE BY THE FUNDS?

Deductions are made from assets of the Funds to pay for management fees and
the operating expenses of the Funds. A full description of the Funds, their
investment policies and restrictions, risks, charges and expenses and all other
aspects of their operation is contained in the accompanying Prospectus for the
Funds.

19
<PAGE>
ARE THERE ANY OTHER DEDUCTIONS?

Currently there is no transfer charge.

HARTFORD LIFE INSURANCE COMPANY
AND THE FUNDS

WHAT IS HARTFORD?

Hartford Life Insurance Company ("Hartford") is a stock life insurance
company engaged in the business of writing health and life insurance, both
individual and group, in all states of the United States and the District of
Columbia. Hartford was originally incorporated under the laws of Massachusetts
on June 5, 1902, and was subsequently redomiciled to Connecticut. Its offices
are located in Simsbury, Connecticut; however, its mailing address is P.O. Box
2999, Hartford, CT 06104-2999. Hartford Life Insurance Company ("Hartford") is a
stock life insurance company engaged in the business of writing health and life
insurance, both individual and group, in all states of the United States and the
District of Columbia. Hartford was originally incorporated under the laws of
Massachusetts on June 5, 1902, and was subsequently redomiciled to Connecticut.
Its offices are located in Simsbury, Connecticut; however, its mailing address
is P.O. Box 2999, Hartford, CT 06104-2999. Hartford is a subsidiary of Hartford
Fire Insurance Company, one of the largest multiple lines insurance carriers in
the United States. Hartford is ultimately owned by ITT Hartford Group, Inc., a
Delaware corporation.

Hartford is rated A+ (superior) by A.M. Best and Company, Inc., on the basis
of its financial soundness and operating performance. Hartford is rated AA by
Standard & Poor's and AA+ by Duff and Phelps on the basis of its claims paying
ability. These ratings do not apply to the investment performance of the Sub-
Accounts of the Separate Account. The ratings apply to Hartford's ability to
meet its insurance obligations, including those described in this Prospectus.

WHAT ARE THE FUNDS?

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

HARTFORD ADVISERS FUND, INC.

To achieve maximum long term total rate of return consistent with prudent
investment risk by investing in common stock and other equity securities, bonds
and other debt securities, and money market instruments. The investment adviser
will vary the investments of the Fund among equity and debt securities and money
market instruments depending upon its analysis of market trends. Total rate of
return consists of current income, including dividends, interest and discount
accruals and capital appreciation.

HARTFORD BOND FUND, INC.

To achieve maximum current income consistent with preservation of capital by
investing primarily in 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 or "BB" by S&P) 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 Hartford Funds entitled "Hartford Bond Fund,
Inc. -- Investment Policies."

HARTFORD CAPITAL APPRECIATION FUND, INC.

To achieve growth of capital by investing in equity securities and
securities convertible into equity securities selected solely on the basis of
potential for capital appreciation; income, if any, is an incidental
consideration.

HARTFORD DIVIDEND AND GROWTH FUND, INC.

To seek a high level of current income consistent with growth of capital and
reasonable investment risk by investing primarily in equity securities and
securities convertible into equity securities.

20
<PAGE>
HARTFORD INDEX FUND, INC.

To provide investment results that correspond to 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.*

HARTFORD INTERNATIONAL OPPORTUNITIES FUND, INC.

To achieve long-term total return consistent with prudent investment risk
through investment primarily in equity securities issued by foreign companies.

HARTFORD MORTGAGE SECURITIES FUND, INC.

To achieve maximum current income consistent with safety of principal and
maintenance of liquidity by investing primarily in mortgage-related securities,
including securities issued by the Government National Mortgage Association
("GNMA").

HARTFORD STOCK FUND, INC.

To achieve long-term capital growth primarily through capital appreciation,
with income a secondary consideration, by investing in equity-type securities.

HVA MONEY MARKET FUND, INC.

To achieve maximum current income consistent with liquidity and preservation
of capital by investing in money market securities.

CALVERT RESPONSIBLY INVESTED BALANCED FUND (CALVERT RESPONSIBLY INVESTED
BALANCED PORTFOLIO SERIES OF ACACIA CAPITAL CORPORATION)

To seek growth of capital through investments in enterprises which make a
significant contribution to society through products and services and through
the way they do business. The Fund invests in a portfolio of stocks, bonds, and
money market instruments selected with a concern for the social impact of each
investment.

INVESTMENT ADVISERS

HL Investment Advisors, Inc. ("HL Investment") serves as the investment
adviser to all of the Funds except the Calvert Responsibly Invested Balanced
Portfolio.

Wellington Management Company, L.L.P. ("Wellington Management") serves as
sub-investment adviser for Hartford Advisers Fund, Hartford Capital Appreciation
Fund, Hartford Dividend and Growth Fund, Hartford International Opportunities
Fund, and Hartford Stock Fund.

In addition, HL Investment has entered an investment services agreement with
Hartford Investment Management Company, Inc., ("HIMCO"), pursuant to which HIMCO
will provide certain investment services to Hartford Bond Fund, Hartford Index
Fund, Hartford Mortgage Securities Funds, and HVA Money Market Fund.

The Calvert Asset Management Company serves as investment adviser and United
States Trust Company of Boston serves as sub-investment-adviser to Calvert
Responsibly Invested Balanced Fund.

A full description of the Funds, their investment policies and restrictions,
risks, charges and expenses and all other aspects of their operation is
contained in the accompanying Funds' Prospectus which should be read in
conjunction with this Prospectus before investing and in the Funds' Statement of
Additional Information which may be ordered from Hartford.

ALL FUNDS

The Hartford Funds are available only to serve as the underlying investment
for the variable annuity and variable life insurance contracts issued by
Hartford.

* "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
Life Insurance Company and affiliates. The Hartford Index Fund, Inc. ("Index
Fund") is not sponsored, endorsed, sold or promoted by Standard & Poor's
("S&P") and S&P makes no representation regarding the advisability of
investing in the Index Fund.

21
<PAGE>

Shares of Calvert Responsibly Invested Balanced Fund, a series of Acacia
Capital Corporation which is unaffiliated with Hartford, are offered to other
unaffiliated separate accounts. Hartford and the Board of Trustees of Acacia
Capital Corporation intend to monitor events to identify any material
irreconcilable conflicts which may arise and to determine what action, if any,
should be taken in response thereto.

It is conceivable that in the future it may be disadvantageous for variable
annuity separate accounts and variable life insurance separate accounts to
invest in the Funds simultaneously. Although Hartford and the Funds do not
currently foresee any such disadvantages either to variable annuity Contract
Owners or to variable life insurance policy owners, the Funds' Board of
Directors intends to monitor events in order to identify any material conflicts
between such Contract Owners and policy owners and to determine what action, if
any, should be taken in response thereto. If the Board of Directors of the Funds
were to conclude that separate funds should be established for variable life and
variable annuity separate accounts, the variable annuity Contract Owners would
not bear any expenses attendant to the establishment of such separate funds, but
variable annuity Contract Owners and variable life insurance policy owners would
no longer have the economics of scale resulting from a larger combined fund.

The Advisers Fund Sub-Account was not available under contracts issued prior
to May 2, 1983. The Capital Appreciation Fund Sub-Account was not available
under contracts issued prior to May 1, 1984. The Mortgage Securities Fund
Sub-Account was not available under contracts issued prior to January 15, 1985.
The Index Fund Sub-Account was not available under contracts issued prior to May
1, 1987. The Dividend and Growth Fund Sub-Account was not available under
contracts issued prior to May 1, 1995. Funds not available prior to the issue
date of a contract may be requested in writing by the Contract Owner.

DOES HARTFORD HAVE ANY INTEREST IN THE FUNDS?

As of December 31, 1996, certain Hartford group pension contracts held
direct interest in shares as follows:

<TABLE>
<CAPTION>
PERCENT OF
SHARES TOTAL SHARES
------------- ------------
<S> <C> <C>
[TO BE PROVIDED BY
AMENDMENT]
Hartford Advisers Fund, Inc...........................................
Hartford Capital Appreciation Fund, Inc...............................
Hartford Index Fund, Inc..............................................
Hartford International Opportunities Fund, Inc........................
Hartford Mortgage Securities Fund, Inc................................
Hartford Stock Fund, Inc..............................................
</TABLE>

FEDERAL TAX CONSIDERATIONS

WHAT ARE SOME OF THE FEDERAL TAX CONSEQUENCES WHICH AFFECT THESE CONTRACTS?
A. GENERAL

SINCE THE TAX LAW IS COMPLEX AND SINCE TAX CONSEQUENCES WILL VARY ACCORDING
TO THE ACTUAL STATUS OF THE CONTRACT OWNER INVOLVED AND THE TYPE OF PLAN UNDER
WHICH THE CONTRACT IS PURCHASED, LEGAL AND TAX ADVICE MAY BE NEEDED BY A PERSON,
EMPLOYER OR OTHER ENTITY CONTEMPLATING THE PURCHASE OF A CONTRACT DESCRIBED
HEREIN.

22
<PAGE>

applicable with respect to certain purchase situations not discussed herein. For
detailed information, a qualified tax adviser should always be consulted. This
discussion is based on Hartford's understanding of existing federal income tax
laws as they are currently interpreted.

B. HARTFORD AND DC-I AND DC-II

DC-I is not taxed as a part of Hartford. The taxation of DC-I is governed by
Subchapter M of Chapter 1 of the Internal Revenue Code of 1986, as amended (the
"Code") pursuant to an Internal Revenue Service ("IRS") Private Letter Ruling
issued with respect to DC-I. By distributing substantially all of the net income
and realized capital gains of DC-I to Contract Owners no federal income tax
liability will be incurred by DC-I on the income and gain so distributed. While
Hartford has no reason to believe that the above referenced Private Letter
Ruling will ever be withdrawn by the IRS, in the event that it is the taxation
of DC-I and DC-II would be identical from the effective date of any such
withdrawal.

DC-II is taxed as part of Hartford which is taxed as a life insurance
company in accordance with the Code. Accordingly, DC-II will not be taxed as a
"regulated investment company" under Subchapter M of the Code. Investment income
and any realized capital gains on the assets of DC-II are reinvested and are
taken into account in determining the value of the Accumulation and Annuity
Units. (See "How is the Accumulation Unit value determined?" commencing on page
13.) 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 DC-II with respect to qualified or non-qualified contracts.

C. INFORMATION REGARDING CODE SECTION 457 DEFERRED COMPENSATION PLANS

These Contracts are designed for use in connection with eligible Deferred
Compensation Plans established and maintained by state or local governments or
tax-exempt organizations. The rules applicable to Deferred Compensation Plans
are complex and may vary depending on individual circumstances. Adverse tax
consequences may result from contributions that exceed applicable limitations,
distributions that do not conform to applicable commencement and minimum
distribution rules, and in other circumstances. Therefore, no attempt is made to
provide more than general information about the use of the Contracts when owned
by eligible employers in connection with Deferred Compensation Plans. Contract
Owners, Participants and Beneficiaries should be aware that Hartford's
administrative procedures do not encompass all applicable contribution,
distribution and other requirements and that Contract Owners, Participants and
Beneficiaries are responsible for determining that contributions, distributions
and other transactions comply with applicable law. Because of the complexity of
these rules, Contract Owners, Participants and Beneficiaries are encouraged to
consult their own tax advisors as to specific tax consequences. Contract Owners,
Participants and Beneficiaries are cautioned that the rights of any person to
any benefits under a Deferred Compensation Plan may be subject to the terms and
conditions of the plan itself, regardless of the terms and conditions of the
Contract, but that Hartford is not bound by the terms and conditions of such
plans to the extent such terms conflict with the Contract, unless Hartford
specifically consents to be bound. A brief description of some of the federal
income tax rules which apply to Deferred Compensation Plans is set forth below.
Hartford may amend the Contract as necessary to conform to the requirements of
applicable law.

1. DEFERRED COMPENSATION PLANS UNDER SECTION 457. Employees and independent
contractors performing services for such employers may contribute on a
before tax basis to the Deferred Compensation Plan of their employer in
accordance with the employer's plan and Section 457 of the Code. Section 457
places limitations on contributions to Deferred Compensation Plans
maintained by a State ("State" means a State, a political sub-division of a
State, and an agency or instrumentality of a State or political sub-division
of a State) or other tax-exempt organization. Generally, the limitation is
33 1/3% of includable compensation (typically 25% of gross compensation) or
$7,500 (indexed), whichever is less. The plan may also provide for
additional "catch-up" deferrals during the three taxable years ending before
a Participant attains normal retirement age.

23
<PAGE>

Small Business Job Protection Act of 1996 requires that all assets and income of
an eligible Deferred Compensation Plan 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 annuity contracts or custodial accounts) 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. However, this requirement does not apply to
amounts under a Deferred Compensation Plan of a tax-exempt (non-governmental)
organization and such amounts will be subject to the claims of such tax-exempt
employer's general creditors.

In general, distributions from a Section 457 Deferred Compensation Plan are
prohibited unless made after the participating employee attains the age
specified in the plan, separates from service, dies, or suffers an unforeseeable
financial emergency. Present federal tax law does not allow tax-free transfers
or rollovers for amounts accumulated in a Section 457 plan except for transfers
to other Section 457 plans in limited cases.

2. FEDERAL INCOME TAX AND TAX PENALTIES. In general, deferred amounts under a
Section 457 Deferred Compensation Plan are taxed as ordinary wage income
when amounts are paid or otherwise made available to the Participant or
Beneficiary.

a. MINIMUM REQUIRED DISTRIBUTIONS. 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.

A Participant's interest in a Deferred Compensation Plan must generally
be distributed, or begin to be distributed, not later than April 1 of the
calendar year following the later of (i) the calendar year in which the
Participant attains age 70 1/2 or (ii) the calendar year in which the
Participant retires from service with the employer sponsoring the plan
("required beginning date"). The entire interest of the Participant must
be distributed beginning no later than this required beginning date over
a period which may not extend beyond a maximum of the life expectancy of
the Participant and a 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 a Participant dies before distributions begin, the Participant's
entire interest must generally be distributed within fifteen (15) years
of his or her death or, if the designated Beneficiary is the
Participant's surviving spouse, over a period not extending beyond the
life expectancy of the surviving spouse. If the Beneficiary is the
Participant's surviving spouse, distributions may be delayed until the
Participant would have attained age 70 1/2.

If a Participant dies after reaching his or her required beginning date
or after distributions have commenced, the Participant's interest must
generally be distributed at least as rapidly as under the method of
distribution in effect at the time of the Participant's death.

b. WITHHOLDING. In general, distributions from Section 457 Deferred
Compensation Plans are subject to regular wage withholding rules.

D. DIVERSIFICATION REQUIREMENTS

Section 817 of the Code 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
in accordance with regulations prescribed by the Treasury Department. If a
Contract is not treated as an annuity contract, the Contract Owner will be
subject to income tax on the annual increases in cash value.

24
<PAGE>
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 addition, in
the case of government securities, each government agency or instrumentality
shall be 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
requirements, the company may 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.

Hartford monitors the diversification of investments in the separate
accounts and tests for diversification as required by the Code. Hartford intends
to administer all contracts subject to the diversification requirements in a
manner that will maintain adequate diversification.

E. OWNERSHIP OF THE ASSETS IN THE SEPARATE ACCOUNT

In order for a variable annuity contract to qualify for tax deferral, assets
in the segregated asset accounts supporting the variable contract must be
considered to be owned by the insurance company and not by the variable contract
owner. The IRS has issued several rulings which discuss investor control. The
IRS has ruled that 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.

Further, in the explanation to the temporary Section 817 diversification
regulations, the Treasury Department noted 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, no other such guidance has been issued. Further, Hartford does not
know if or in what form such guidance will be issued. In addition, although
regulations are generally issued with prospective effect, it is possible that
regulations may be issued with retroactive effect. Due to the lack of specific
guidance regarding the issue of investor control, there is necessarily some
uncertainty regarding whether a Contract Owner could be considered the owner of
the assets for tax purposes. Hartford reserves the right to modify the
contracts, as necessary, to prevent Contract Owners from being considered the
owners of the assets in the separate accounts.

F. NON-NATURAL PERSONS, CORPORATIONS

The annual increase in the value of the contract is currently includable in
gross income of a non-natural person. There is an exception for annuities held
by structured settlement companies and annuities held by an employer with
respect to a terminated pension plan. 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.

G. 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.

25
<PAGE>
MISCELLANEOUS

WHAT ARE MY VOTING RIGHTS?

Hartford shall notify the Contract Owner of any Fund shareholders' meeting
if the shares held for the Contract Owner's accounts may be voted at such
meetings. Hartford shall also send proxy materials and a form of instruction by
means of which the Contract Owner can instruct Hartford with respect to the
voting of the Fund shares held for the Contract Owner's account. In connection
with the voting of Fund shares held by it, Hartford shall arrange for the
handling and tallying of proxies received from Contract Owners. Hartford as
such, shall have no right, except as hereinafter provided, to vote any Fund
shares held by it hereunder which may be registered in its name or the names of
its nominees. Hartford will, however, vote the Fund shares held by it in
accordance with the instructions received from the Contract Owners for whose
accounts the Fund shares are held. If a Contract Owner desires to attend any
meeting at which shares held for the Contract Owner's benefit may be voted, the
Contract Owner may request Hartford to furnish a proxy or otherwise arrange for
the exercise of voting rights with respect to the Fund shares held for such
Contract Owner's account. In the event that the Contract Owner gives no
instructions or leaves the manner of voting discretionary, Hartford will vote
such shares of the appropriate Fund, including any of its own shares, in the
same proportion as shares of that Fund for which instructions have been
received.

Every Participant under a contract issued with respect to DC-II who has a
full (100%) vested interest under a group contract, shall receive proxy material
and a form of instruction by means of which Participants may instruct the
Contract Owner with respect to the number of votes attributable to his
individual participation under a group contract.

A Contract Owner or Participant, as appropriate, is entitled to one full or
fractional vote for each full or fractional Accumulation or Annuity Unit owned.
The Contract Owner has voting rights throughout the life of the contract. The
vested Participant has voting rights for as long as participation in the
contract continues. Voting rights attach only to Separate Account interests.

During the Annuity period under a contract the number of votes will decrease
as the assets held to fund Annuity benefits decrease.

WILL OTHER CONTRACTS BE PARTICIPATING IN THE SEPARATE ACCOUNTS?

In addition to the contracts described in this Prospectus, it is
contemplated that other forms of group or individual annuities may be sold
providing benefits which vary in accordance with the investment experience of
the Separate Accounts.

HOW ARE THE CONTRACTS SOLD?

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. The principal business address
of HSD is the same as that of Hartford.

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

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.

Compensation will be paid by Hartford to registered representatives for the
sale of contracts up to a maximum of 5.0% of Contributions and 0.25% annually on
Participants' Individual Account Values. Sales compensation may be reduced.

WHO IS THE CUSTODIAN OF THE SEPARATE ACCOUNTS' ASSETS?

Hartford is the custodian of the Separate Accounts' assets.

26
<PAGE>
ARE THERE ANY MATERIAL LEGAL PROCEEDINGS AFFECTING THE SEPARATE ACCOUNTS?

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, General Counsel and Secretary, Hartford Life
Insurance Companies, P.O. Box 2999, Hartford, CT 06104-2999.

ARE YOU RELYING ON ANY EXPERTS AS TO ANY PORTION OF THIS PROSPECTUS?

The audited financial statements and schedules included in this Prospectus
and elsewhere in the registration statement have been audited by Arthur Andersen
LLP, independent public accountants, as indicated in their reports with respect
thereto, and are included herein in reliance upon the authority of said firm as
experts in giving said reports. Reference is made to said report on the
financial statements of Hartford Life Insurance Company (the Depositor), which
includes an explanatory paragraph with respect to the change in method of
accounting for debt and equity securities as of January 1, 1994, as discussed in
Note 1 of Notes to Consolidated Financial Statements. The principal business
address of Arthur Andersen LLP is One Financial Plaza, Hartford, Connecticut
06103.

HOW MAY I GET ADDITIONAL INFORMATION?

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

Hartford Life Insurance Company
Attn: RPVA Administration
P.O. Box 2999
Hartford, CT 06104-2999

27
<PAGE>
TABLE OF CONTENTS

FOR
STATEMENT OF ADDITIONAL INFORMATION

<TABLE>
<CAPTION>
PAGE
----
<S> <C>
DESCRIPTION OF HARTFORD LIFE INSURANCE COMPANY..........................

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

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

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

ANNUITY PERIOD..........................................................

A. Annuity Payments.................................................

B. Electing the Annuity Commencement Date and Form of Annuity.......

C. Optional Annuity Forms...........................................

OPTION 1: Life Annuity............................................

OPTION 2: Life Annuity With 120, 180 or 240 Monthly Payments
Certain...........................................................

OPTION 3: Unit Refund Life Annuity................................

OPTION 4: Joint and Last Survivor Annuity.........................

OPTION 5: Payments for a Designated Period........................

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

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

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

28
<PAGE>
To obtain a Statement of Additional Information, complete the form below and
mail to:

Attn: RPVA Administration
Hartford Life Insurance Companies
P.O. Box 2999
Hartford, CT 06104-2999

Please send a Statement of Additional Information for Separate Account DC-I and
Separate Account Two (DC-II) (Form HV-1879-9) to me at the following address.

- ------------------------------------------------
(name)

- ------------------------------------------------
(address)

- ------------------------------------------------
(city/state) (zip code)
<PAGE>

PART B

STATEMENT OF ADDITIONAL INFORMATION

HARTFORD LIFE INSURANCE COMPANY
SEPARATE ACCOUNT DC-I AND SEPARATE ACCOUNT TWO (DC-II)

Group Variable Annuity Contracts Issued by
Hartford Life Insurance Company
With Respect to DC-I and DC-II

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 Hartford Life Insurance
Company, Attn: RPVA Administration, P.O. Box 2999, Hartford, CT 06104-2999.

Date of Prospectus: May 1, 1997
Date of Statement of Additional Information: May 1, 1997

<PAGE>

TABLE OF CONTENTS

SECTION PAGE
- ------- ----

DESCRIPTION OF HARTFORD LIFE INSURANCE COMPANY................. 1

SAFEKEEPING OF ASSETS.......................................... 1

INDEPENDENT PUBLIC ACCOUNTANTS................................. 1

DISTRIBUTION OF CONTRACTS...................................... 2

ANNUITY PERIOD................................................. 2

A. Annuity Payments........................................... 2

B. Electing the Annuity Commencement Date and Form of Annuity. 3

C. Optional Annuity Forms..................................... 3

OPTION 1: Life Annuity...................................... 3

OPTION 2: Life Annuity With 120, 180 or 240 Monthly Payments
Certain......................................... 3

OPTION 3: Unit Refund Life Annuity.......................... 4

OPTION 4: Joint and Last Survivor Annuity................... 5

OPTION 5: Payments for a Designated Period.................. 5

CALCULATION OF YIELD AND RETURN................................ 5

PERFORMANCE COMPARISONS........................................ 8

FINANCIAL STATEMENTS........................................... 10

<PAGE>

DESCRIPTION OF HARTFORD LIFE INSURANCE COMPANY

Hartford Life Insurance Company ("Hartford") is a stock life insurance
company engaged in the business of writing health and life insurance, both
individual and group, in all states of the United States and the District of
Columbia. Hartford was originally incorporated under the laws of
Massachusetts on June 5, 1902, and was subsequently redomiciled to
Connecticut. Its offices are located in Simsbury, Connecticut; however, its
mailing address is P.O. Box 2999, Hartford, CT 06104-2999. Hartford Life
Insurance Company (""Hartford'') is a stock life insurance company engaged in
the business of writing health and life insurance, both individual and group,
in all states of the United States and the District of Columbia. Hartford was
originally incorporated under the laws of Massachusetts on June 5, 1902,
and was subsequently redomiciled to Connecticut. Its offices are located in
Simsbury, Connecticut; however, its mailing address is P.O. Box 2999,
Hartford, CT 06104-2999. Hartford is a subsidiary of Hartford Fire Insurance
Company, one of the largest multiple lines insurance carriers in the
United States. Hartford is ultimately owned by ITT Hartford Group, Inc.,
a Delaware corporation.

Hartford is rated A+ (superior) by A.M. Best and Company, Inc., on the basis
of its financial soundness and operating performance. Hartford is rated AA
by Standard & Poor's and AA+ by Duff and Phelps on the basis of its claims
paying ability. These ratings do not apply to the investment performance of
the Sub-Accounts of the Separate Account. The ratings apply to Hartford's
ability to meet its insurance obligations, including those described in this
Prospectus.

As of December 31, 1996, certain Hartford Life group pension contracts held
direct interest in shares as follows:

Percent of
Shares Total Shares
------ -------------
[To be provided by amendment]

Hartford Advisers Fund, Inc........................

Hartford Capital Appreciation Fund, Inc............

Hartford Index Fund, Inc...........................

Hartford International Opportunities Fund, Inc.....

Hartford Mortgage Securities Fund, Inc.............

Hartford Stock Fund, Inc...........................

SAFEKEEPING OF ASSETS

Hartford holds the assets of the Separate Account in its custody for
safekeeping and performs those services normally performed by a custodian.

INDEPENDENT PUBLIC ACCOUNTANTS

The audited financial statements and schedules included in this Prospectus
and elsewhere in the registration statement have been audited by Arthur
Andersen LLP, independent public accountants, as indicated in their reports
with respect thereto, and are included herein in reliance upon the authority
of said firm as experts in giving said reports. Reference is made to said
report on the financial statements of Hartford Life Insurance Company (the
Depositor), which includes an explanatory paragraph with respect to the
change in method of accounting for debt and equity securities as of January
1, 1994, as discussed in Note 1 of Notes to Consolidated Financial
Statements. The principal business address of Arthur Andersen LLP is One
Financial Plaza, Hartford, Connecticut 06103.

<PAGE>
-2-

DISTRIBUTION OF CONTRACTS

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. The principal business address
of HSD is the same as Hartford.

The securities will be sold by salespersons of HSD who represent Hartford 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 Exchange Act of 1934 as a Broker-Dealer and is a member of the
National Association of Securities Dealers, Inc. ("NASD"). Compensation will
be paid by Hartford to registered representatives for the sale of Contracts
up to a maximum of 5% on Contributions and .50% annually on Individual
Participants' Account Values. Sales compensation may be reduced.

The offering of the Separate Account contracts is continuous.

ANNUITY PERIOD

A. Annuity Payments

Variable Annuity payments are determined on the basis of (1) a mortality
table set forth in the contracts which reflects the age of the Annuitant
and the type of Annuity payment option selected, and (2) the investment
performance of the investment medium selected. Fixed Annuity payments
will be no less than those calculated at rates based on the annuity
tables contained in the contracts.

The amount of the Annuity payments will not be affected by adverse
mortality experience or by an increase in expenses in excess of the
expense deduction for which provision has been made (see "Charges Under
the Contracts," in the Prospectus).

The Annuitant will be paid the value of a fixed number of Annuity Units
each month. The value of such units and the amounts of the monthly
Variable Annuity payments will, however, reflect investment income
occurring after retirement, and thus the payments will vary with the
investment experience of the Fund shares selected.

Illustration of Calculation of Annuity Unit Value

1. Net Investment Factor for period .000498

2. Adjustment for 4% Assumed Rate of Net Investment Return .999892

3. 2x(1+1.000000) 1.000390

4. Annuity Unit value, beginning of period .995995

5. Annuity Unit value, end of period (3x4) .996383

<PAGE>

-3-

B. Electing the Annuity Commencement Date and Form of Annuity

Depending on the Contract involved, the Contract Owner or Participant
selects an Annuity Commencement Date, usually between a Participant's
50th and 75th birthdays, and an Annuity option. The Annuity Commencement
Date may not be deferred beyond the Participant's 75th birthday. The
Annuity Commencement Date and/or the Annuity option may be changed from
time to time, but any such change must be made at least 30 days prior to
the date on which Annuity payments are scheduled to begin. Annuity
payments will be made on the first business day of each month.

The contracts contain the five optional Annuity forms described below,
which may be selected on either a Fixed or Variable Annuity basis, or a
combination thereof. If a Contract Owner does not elect otherwise,
Hartford Life reserves the right to begin Annuity payments at age 75
under Option 2 with 120 monthly payments certain.

When an Annuity is purchased for an Annuitant, unless otherwise
specified, DC-I or DC-II Accumulation Unit values will be applied to
provide a Variable Annuity under DC-II.

The minimum Annuity payment is $20. No election may be made which
results in a first payment of less than $20. If at any time Annuity
payments are or become less than $20, Hartford Life has the right to
change the frequency of payment to such intervals as will result in
payments of at least $20.

C. Optional Annuity Forms

OPTION 1: Life Annuity

A life annuity is an Annuity payable during the lifetime of the Annuitant
and terminating with the last monthly payment preceding the death of the
Annuitant. This option offers the maximum level of monthly payments of
any of the other life annuity options (Options 2-4) since there is no
guarantee of a minimum number of payments nor a 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 due 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 if, at the death of the Annuitant,
payments have been made for less than 120, 180 or 240 months, as elected,
then the present value as of the date of the Participant's death at the
current dollar amount at the date of death of any remaining guaranteed
monthly payments will be paid in one sum to the Beneficiary or
Beneficiaries designated unless other provisions will have been made and
approved by Hartford Life.

<PAGE>

-4-

Illustration of Annuity Payments
Individual Age 65, Life Annuity
With 120 Payments Certain
-------------------------

1. Net amount applied 13,978.25

2. Initial monthly income per $1,000 of payment applied 5.93

3. Initial monthly payment (1x2/1,000) 82.89

4. Annuity Unit value .953217

5. Number of monthly Annuity Units (3 DIVIDED BY 4) 86.959

6. Assume Annuity Unit value for second month equal to .963723

7. Second monthly payment (6x5) 83.80

8. Assume Annuity Unit value for third month equal to .964917

9. Third month payment (8x5) 83.91

For the purpose of this illustration, purchase is assumed to have been
made on the 5th business day preceding the first payment date. In
determining the second and subsequent payments the annuity unit value of
the 5th business day preceding the annuity due date is used.

OPTION 3: Unit Refund Life Annuity

This Annuity option is an Annuity payable monthly during the lifetime of
the Annuitant terminating with the last payment due prior to the death of
the Annuitant except that an additional payment will be made to the
Beneficiary or Beneficiaries if (a) below exceeds (b) below:

total amount applied under the option

at the Annuity Commencement Date

(a) = _________________________________
Annuity Unit value at the Annuity
Commencement Date

(b) = number of Annuity Units represented number of monthly
by monthly Annuity payment made X Annuity payments made

The amount of the additional payments will be determined by multiplying
such excess by the Annuity Unit value as of the date that proof of death
is received by Hartford Life.

For example, if $20,000 were applied to the purchase of an Annuity under
this option, the value of an Annuity Unit was $1.25 on the Annuity
Commencement Date, the number of Annuity Units represented by each
monthly payment was 91.68 (the number applicable to an

<PAGE>

-5-

individual electing this option to commence at age 65), 60 monthly
Annuity payments were made prior to the date of death, and the value of
an Annuity Unit on the date of receipt of proof of an Annuitant's death
was $1.50, the amount paid to the Beneficiary would be $15,748.80,
computed as follows:

$20,000 (91.68 x 60) = 10,499.200
------
$1.25
or

16,000.000 - 5,500.800 = 10,499.200
10,499.200 x $1.50 = $15,748.80

OPTION 4: 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.

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

OPTION 5: Payments for a Designated Period

An amount payable monthly for the number of years. Under most group
contracts, the minimum number of years is five.

In the event of the Annuitant's death prior to the end of the designated
period, any then remaining balance of proceeds will be paid in one sum to
the Beneficiary or Beneficiaries designated unless other provisions will
have been made and approved by Hartford Life.

Option 5 is an option that does not involve life contingencies and thus
no mortality guarantee.

Surrenders under Option 5 will be subject to the limitations set forth in
the Contract and any applicable contingent deferred sales charges (see
"How do I select an Annuity Commencement Date and Form of Annuity?" in
the Prospectus.)

CALCULATION OF YIELD AND RETURN

YIELD OF THE HVA MONEY MARKET FUND SUB-ACCOUNT. As summarized in the
Prospectus under the heading "Performance Related Information," the yield of
the Money Market Fund

<PAGE>

-6-

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 share at the beginning of the
period, dividing the net change in account value by the value of the account
at the beginning of the base period to obtain the base period return, and
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 and contract 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 Money Market Fund Sub-Account yield and effective yield will vary in
response to fluctuations in interest rates and in the expenses of the two
Sub-Accounts.

The current yield and effective yield reflect recurring charges on the
Separate Account level, including the maximum Annual Contract Fee.

Money Market Fund Sub-Account

The yield and effective yield for the seven day period ending December 31,
1996 is as follows:

Yield [To be provided by amendment]
Effective Yield [To be provided by amendment]

YIELDS OF HARTFORD BOND FUND AND HARTFORD MORTGAGE SECURITIES FUND
SUB-ACCOUNTS. As summarized in the Prospectus under the heading "Performance
Related Information," yields of these two Sub-Accounts 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 funds "net asset value per share" for the same period in addition to
the daily expense charged assessed, at the sub-account level for the
respective period. The Bond Fund and Mortgage Securities Fund 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 Bond Fund and Mortgage Securities Fund.

The yield reflects recurring charges on the Separate Account level.

The Bond Fund and Mortgage Securities Fund Sub-Accounts' yield 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 Funds.

<PAGE>

-7-

Bond Fund Sub-Account

Yield calculations of the Sub-Account used for illustration purposes reflect
the interest earned by the Sub-Account, less applicable asset charges
assessed against a Contract Owner's contract over the base period. The
following is the method used to determine the yield for the 30 day period
ended December 31, 1996.

Example:

Current Yield Formula for the Sub-Account 2*[((A-B)/(C*D) + 1)(6) - 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 = [To be provided by amendment] (DC-I and DC-II)

Mortgage Securities Fund Sub-Account

Yield calculations of the Sub-Account used for illustration purposes reflect
the interest earned by the Sub-Account, less applicable asset charges
assessed against a Contract Owner's account over the base period. The
following is the method used to determine the yield for the 30 days period
ended December 31, 1996.

Example:

Current Yield Formula for the Sub-Account 2*[((A-B)/(C*D) + 1)(6) - 1]

Yield = [To be provided by amendment] (DC-I and DC-II)

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.

The method of calculating yields described above for these Sub-Accounts
differs from the method used by the Sub-Accounts prior to May 1, 1988. The
denominator of the fraction used to calculate yield was previously the
average unit value for the period calculated. That denominator

<PAGE>

-8-

will hereafter be the unit value of the Sub-Accounts on the last trading day
of the period calculated.

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. Total return will
be calculated 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.

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
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 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 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 Shearson Lehman Government Bond Index (the "SL Government Index") is a
measure of the

<PAGE>

-9-

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.

<PAGE>

-10-

FINANCIAL STATEMENTS TO BE PROVIDED BY AMENDMENT

<PAGE>

HARTFORD
LIFE INSURANCE COMPANY
GROUP VARIABLE ANNUITY CONTRACTS
ISSUED BY HARTFORD
LIFE INSURANCE COMPANY
WITH RESPECT TO DC-I AND DC-II
[LOGO]

The variable annuity contracts (hereinafter the "contract" or "contracts"
or "Master Contracts") described in this Prospectus are issued by Hartford
Life Insurance Company ("Hartford"). The contracts provide for both an
Accumulation Period and an Annuity Period.

The contracts are issued in conjunction with Deferred Compensation Plans of
tax-exempt and governmental employers. Variable account Contributions are
held in Hartford Life Insurance Company DC Variable Account-I ("DC-I") during
the Accumulation Period and in a series of Hartford Life Insurance Company
Separate Account Two ("DC-II") during the Annuity Period.

The contracts to which Contributions may be made may contain a General
Account option or a separate General Account contract may be issued in
conjunction with the contracts described herein. The General Account option
or contract may contain restrictions on a Contract Owner's ability to
transfer Participant Account Values to or from such contract or option. The
General Account option or contract and these restrictions, if any, are not
described in this Prospectus.

The following Sub-Accounts are available under the contracts. Opposite
each Sub-Account is the name of the underlying investment for that Account.

<TABLE>

<S> <C>

Advisers Fund Sub-Account - shares of Hartford Advisers Fund, Inc. ("Advisers Fund")
Bond Fund Sub-Account - shares of Hartford Bond Fund, Inc. ("Bond Fund")
Calvert Responsibly Invested Balanced Fund - shares of Calvert Responsibly Invested Balanced Portfolio of
Sub-Account Acacia Capital Corporation ("Calvert Responsibly Invested
Balanced Fund")
Capital Appreciation Fund Sub-Account - shares of Hartford Capital Appreciation Fund, Inc. ("Capital
Appreciation Fund")
Dividend and Growth Fund Sub-Account - shares of Hartford Dividend and Growth Fund, Inc. ("Dividend
and Growth Fund")

Index Fund Sub-Account - shares of Hartford Index Fund, Inc. ("Index Fund")
International Opportunities Fund - shares of Hartford International Opportunities Fund, Inc.
Sub-Account ("International Opportunities Fund")
Money Market Fund Sub-Account - shares of HVA Money Market Fund, Inc. ("Money Market Fund")
Mortgage Securities Inc. Fund Sub-Account - shares of Hartford Mortgage Securities Fund ("Mortgage
Securities Fund")
Stock Fund Sub-Account - shares of Hartford Stock Fund, Inc. ("Stock Fund")

</TABLE>

This Prospectus sets forth the information concerning the Separate Account
that investors ought to know before investing. This Prospectus should be
kept for future reference. Additional information about the Separate Account
has been filed with the Securities and Exchange Commission and is available
without charge upon request. To obtain the Statement of Additional
Information send a written request to Hartford Life Insurance Company, Attn:
RPVA Administration, P.O. Box 2999, Hartford, CT 06104-2999. The Table of
Contents for the Statement of Additional Information may be found on page
of this Prospectus. The Statement of Additional Information is incorporated
by reference to this Prospectus.
- ------------------------------------------------------------------------------

THESE SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE SECURITIES AND
EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION NOR HAS THE SECURITIES
AND EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION PASSED UPON THE
ACCURACY OR ADEQUACY OF THIS PROSPECTUS. ANY REPRESENTATION TO THE CONTRARY
IS A CRIMINAL OFFENSE.

THIS PROSPECTUS IS NOT VALID UNLESS ATTACHED TO THE CURRENT PROSPECTUS OF
THE APPLICABLE ELIGIBLE FUNDS LISTED ABOVE WHICH CONTAINS A FULL DESCRIPTION
OF THOSE FUNDS. INVESTORS ARE ADVISED TO RETAIN THESE PROSPECTUSES FOR FUTURE
REFERENCE.
- ------------------------------------------------------------------------------

Prospectus Dated: May 1, 1997
Statement of Additional Information Dated: May 1, 1997

<PAGE>

TABLE OF CONTENTS

PAGE
----
<S> <C>
GLOSSARY OF SPECIAL TERMS. . . . . . . . . . . . . . . . . .
FEE TABLE. . . . . . . . . . . . . . . . . . . . . . . . . .
SUMMARY. . . . . . . . . . . . . . . . . . . . . . . . . . .
ACCUMULATION UNIT VALUES . . . . . . . . . . . . . . . . . .
PERFORMANCE RELATED INFORMATION. . . . . . . . . . . . . . .
INTRODUCTION . . . . . . . . . . . . . . . . . . . . . . . .
THE CONTRACTS AND THE SEPARATE ACCOUNTS. . . . . . . . . . .
What are the contracts? . . . . . . . . . . . . . . . . .
Who can buy these contracts?. . . . . . . . . . . . . . .
What are the Separate Accounts and how do they operate? .
OPERATION OF THE CONTRACT. . . . . . . . . . . . . . . . . .
How are Contributions credited? . . . . . . . . . . . . .
May I make changes in the amounts of my Contribution? . .
May I transfer assets between Sub-Accounts? . . . . . . .
What happens if the Contract Owner fails to make
Contributions? . . . . . . . . . . . . . . . . . . . . .
May I assign or transfer the contract?. . . . . . . . . .
How do I know what my account is worth? . . . . . . . . .
How is the Accumulation Unit value determined?. . . . . .
How are the underlying Fund shares valued?. . . . . . . .
PAYMENT OF BENEFITS. . . . . . . . . . . . . . . . . . . . .
What would my Beneficiary receive as death proceeds?. . .
How can a contract be redeemed or surrendered?. . . . . .
Can payment of the redemption or surrender value ever
be postponed beyond the seven day period . . . . . . . .
May I surrender once Annuity payments have started? . . .
Are there differences in the contract related to the
type of plan in which the Participant is enrolled? . . .
Can a contract be suspended by a Contract Owner?. . . . .
How do I elect an Annuity Commencement Date and
Form of Annuity? . . . . . . . . . . . . . . . . . . . .
What is the minimum amount that I may select for an
Annuity payment? . . . . . . . . . . . . . . . . . . . .
How are Contributions made to establish my
Annuity account? . . . . . . . . . . . . . . . . . . . .
What are the available Annuity Options under the
contracts? . . . . . . . . . . . . . . . . . . . . . .
How are Variable Annuity payments determined? . . . . . .
Can a contract be modified? . . . . . . . . . . . . . . .
CHARGES UNDER THE CONTRACT . . . . . . . . . . . . . . . . .
How are the charges under these contracts made? . . . . .
Is there ever a time when the sales charges do
not apply? . . . . . . . . . . . . . . . . . . . . . . .
What do the sales charges cover?. . . . . . . . . . . . .
What is the mortality, expense risk and administrative
charge? . . . . . . . . . . . . . . . . . . . . . . . .
Experience Rating of Contracts. . . . . . . . . . . . . .
How much are the deductions for Premium Taxes on
these contracts? . . . . . . . . . . . . . . . . . . . .
What charges are made by the Funds? . . . . . . . . . . .
Are there any other deductions? . . . . . . . . . . . . .
HARTFORD LIFE INSURANCE COMPANY AND THE FUNDS. . . . . . . .
What is Hartford Life Insurance Company?. . . . . . . . .
What are the Funds? . . . . . . . . . . . . . . . . . . .
Does Hartford have any interest in the Funds? . . . . . .

</TABLE>
<PAGE>

PAGE
----
<S> <C>
FEDERAL TAX CONSIDERATIONS . . . . . . . . . . . . . . . . .
What are some of the federal tax consequences which
affect these contracts? . . . . . . . . . . . . . . . .
MISCELLANEOUS. . . . . . . . . . . . . . . . . . . . . . . .
What are my voting rights?. . . . . . . . . . . . . . . .
Will other contracts be participating in the
Separate Accounts? . . . . . . . . . . . . . . . . . . .
How are the contracts sold? . . . . . . . . . . . . . . .
Who is the custodian of the Separate Accounts' assets?. .
Are there any material legal proceedings affecting the
Separate Accounts? . . . . . . . . . . . . . . . . . . .
Are you relying on any experts as to any portion of
this Prospectus? . . . . . . . . . . . . . . . . . . . .
How may I get additional information? . . . . . . . . . .
TABLE OF CONTENTS FOR STATEMENT OF ADDITIONAL INFORMATION. .

</TABLE>

<PAGE>

GLOSSARY OF SPECIAL TERMS

ACCUMULATION PERIOD: The period before the commencement of Annuity payments.

ACCUMULATION UNIT: An accounting unit of measure used to calculate values
before Annuity payments begin.

ANNUITANT: A Participant on whose behalf Annuity payments are to be made
under a contract.

ANNUITANT'S ACCOUNT: An account established at the commencement of the
Annuity Period under which Annuity payments are made under the contracts.

ANNUITY COMMENCEMENT DATE: The date on which Annuity payments are to
commence.

ANNUITY PERIOD: The period following the commencement of Annuity payments.

ANNUITY RIGHTS: The Contract Owner's right in situations where the contract
is issued in conjunction with a Deferred Compensation Plan to apply up to
five times the gross Contributions made to the contract during the
Accumulation Period (in DC-I only), at the Annuity rates set forth in the
contract at the time of issue, at the commencement of the Annuity Period to
effect Annuity payments.

ANNUITY UNIT: An accounting unit of measure in the Separate Account used to
calculate the amount of Variable Annuity payments.

BENEFICIARY: The person(s) designated to receive contract values in the
event of the Participant's or Annuitant's death.

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

COMMISSION: Securities and Exchange Commission.

CONTRACT OWNER: The Employer or entity owning the contract.

CONTRACT YEAR: A period of 12 months commencing with the effective date of
the contract or with any anniversary thereof.

CONTRIBUTION(S): The amount(s) paid or transferred to Hartford by the
Contract Owner on behalf of Participants pursuant to the terms of the
contracts.

DATE OF COVERAGE: The date on which the application on behalf of a
Participant is received by Hartford.

DC VARIABLE ACCOUNT I: Hartford Life Insurance Company DC Variable Account-I.

DC VARIABLE ACCOUNT II: A series of Hartford Life Insurance Company Separate
Account Two.

DEFERRED COMPENSATION PLAN: A plan established and maintained in accordance
with the provisions of Section 457 of the Internal Revenue Code and the
regulations issued thereunder.

EMPLOYER: A governmental or tax-exempt Employer maintaining a Deferred
Compensation Plan for its Employees.

FIXED ANNUITY: An Annuity providing for guaranteed payments which remain
fixed in amount throughout the payment period and which do not vary with the
investment experience of a separate account.

FUNDS: Currently, the Funds described commencing on page of this
Prospectus.

GENERAL ACCOUNT: The General Account of Hartford in which consists of all
assets of Hartford other than those allocated to the separate accounts of
Hartford.

HARTFORD: Hartford Life Insurance Company.

MINIMUM DEATH BENEFIT: The minimum amount payable upon the death of a
Participant prior to age 65 and before Annuity payments have commenced.

PARTICIPANT: A term used to describe, for record keeping purposes only, any
Employee electing to participate in the Deferred Compensation of the
Employer/Contract Owner.

PARTICIPANT'S CONTRACT YEAR: A period of twelve (12) months commencing with the
Date of Coverage of a Participant and each successive 12 month period
thereafter.

PARTICIPANT'S INDIVIDUAL ACCOUNT: An account to which the General Account
values and the Separate Account Accumulation Units held by the Contract Owner on
behalf of Participant under the contract are allocated.

PLAN: The Deferred Compensation Plan of an Employer.

PREMIUM TAX: A tax charged by a state or municipality on premiums, purchase
payments or contract values.

3
<PAGE>

SEPARATE ACCOUNT: The Account entitled Hartford Life Insurance Company DC
Variable Account-I ("DC-I") and a series of Hartford Life Insurance Company
Separate Account Two ("DC-II").

SUB-ACCOUNT: Accounts established within the Separate Account with respect
to a Fund.

VALUATION DAY: Every day the New York Stock Exchange is open for trading.
The value of the Separate Account is determined at the close of the New York
Stock Exchange (currently 4:00 p.m. Eastern Time) on such days.

VALUATION PERIOD: The period between successive Valuation Days.

VARIABLE ANNUITY: An Annuity providing for payments varying in amount in
accordance with the investment experience of the assets held in the
underlying securities of the Separate Account.

<PAGE>

FEE TABLE

SUMMARY
CONTRACT OWNER TRANSACTION EXPENSES
(ALL SUB-ACCOUNTS)

Sales Load Imposed on Purchases (as a percentage of premium payments).. None
Transfer Fee .......................................................... $ 0
Contingent Deferred Sales Charge (as a percentage of amounts withdrawn)
First and Second Year ................................................. 5%
Third and Fourth Year ................................................. 4%
Fifth Year ............................................................ 3%
Sixth Year ............................................................ 2%
Seventh Year .......................................................... 1%
Eighth 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, and Mortality and
Expense Risk charge may be reduced or eliminated. See "Experience Rating of
Contracts" on page .
- -------
(1) The Mortality and Expense Risk charge under DC Variable Account-I is
0.750% of the average daily net assets of DC-I where contract values
which exceed fifty million dollars.

ANNUAL FUND OPERATING EXPENSES
(AS A PERCENTAGE OF NET ASSETS)

[TO BE PROVIDED BY AMENDMENT]

EXAMPLE -- DCI [TO BE PROVIDED BY AMENDMENT]

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.

EXAMPLE -- DCII [TO BE PROVIDED BY AMENDMENT]

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.

5
<PAGE>

SUMMARY

A. CONTRACTS OFFERED

Group contracts are issued in conjunction with a Deferred Compensation
Plan.

B. ACCUMULATION PERIOD UNDER THE CONTRACTS

During the Accumulation Period under the contracts, Contributions made by
the Employer to the contracts are used to purchase variable account
interests. Contributions allocated to purchase variable interests may, after
the deductions described hereafter, be invested in selected Sub-Accounts of
DC-I or DC-II, as appropriate.

C. CONTINGENT DEFERRED SALES CHARGES

No deduction for sales expense is made at the time of allocation of
Contributions to the contracts. A deduction for contingent deferred sales
charges is made if there is any surrender of contract values during the first
7 Participant's Contract Years. During the first 2 years thereof, a maximum
deduction of 5% will be made against the full amount of any such surrender.
During the next 2 years thereof, a maximum deduction of 4% will be made
against the full amount of any such surrender. During the next 1 year
thereof, a maximum deduction of 3% will be made against the full amount of
any such surrender. During the next 1 year thereof, a maximum deduction of
2% will be made against the full amount of any such surrender. During the
next 1 year thereof, a maximum deduction of 1% will be made against the full
amount of any such surrender. Such charges will never exceed 8.5% of
aggregate Contributions to a Participant's Individual Account. The amount or
term of the contingent deferred sales charge may be reduced (see "Experience
Rating of Contracts", page __).

No deduction for contingent deferred sales charges will be made in
certain cases. (See "Is there ever a time when the sales charges do not
apply?" commencing on page .)

Hartford reserves the right to limit any increase in the Contributions
made to a Participant's Individual Account under any contract to no more than
three times the total Contributions made on behalf of such Participant during
the initial 12 consecutive months following the Date of Coverage. Increases
in excess of those described will be accepted only with the consent of
Hartford and subject to the then current deductions being made under the
contracts.

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 __).

E. ANNUITY PERIOD UNDER THE CONTRACTS

Contract values held with respect to Participants' Individual Accounts
with respect to DC-I or DC-II, as appropriate, at the end of the Accumulation
Period (and any additional Contributions that a Deferred Compensation Plan
Contract Owner (DC-I, only) elects to make at the commencement of the Annuity
Period) will, at the direction of the Contract Owner, be allocated to
establish Annuitants' Accounts to provide Fixed and/or Variable Annuities
under the contracts.

F. MINIMUM DEATH BENEFITS

A Minimum Death Benefit is provided in the event of death of the
Participant under a Participant's Individual Account prior to the earlier of
the Participant's 65th birthday or the Annuity Commencement Date. (see "What
would my Beneficiary receive as death proceeds?" commencing on page .)

G. ANNUITY OPTIONS

The Annuity Commencement Date will not be deferred beyond the
Participant's 75th birthday or such earlier date as may be required by
applicable law and/or regulation. If a Contract Owner does not elect
otherwise, Hartford reserves the right to begin Annuity payments
automatically at age 75 under an option providing for a life Annuity with 120

6
<PAGE>

monthly payments certain. (see "What are the available Annuity Options under
the contracts?" commencing on page __.) However, Hartford will not assume
responsibility in determining or monitoring minimum distributions beginning
at age 70 1/2.

H. DEDUCTIONS FOR PREMIUM TAXES

Deductions will be made during the Accumulation Period and Annuity
Period, as appropriate, for the payment of any Premium Taxes that may be
levied against the contract by a state or other governmental entity. The
range is generally between 0% and 3.50%. (see "Charges Under The Contract"
on page .)

I. ASSET CHARGE IN THE SEPARATE ACCOUNT

During both the Accumulation Period and the Annuity Period a charge is
made by Hartford for providing the mortality, expense, and administrative
costs 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 costs) 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 costs) 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
costs) of the average daily net assets of DC-II. The rate charged for the
mortality, expense and administrative costs under the contracts may be
reduced (see "Experience Rating of Contracts", page __). The rate charged for
the expense, mortality and administrative costs may be periodically increased
by Hartford 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 __.)

J. FUND FEES AND CHARGES

The Funds are subject to certain fees, charges and expenses. See the
accompanying Prospectus for the Funds.

K. MINIMUM PAYMENT

The minimum Contribution that may be made each month on behalf of a
Participant's Individual Account under a contract is $30.00 unless the
Employer's plan provides otherwise.

L. PAYMENT ALLOCATION TO THE SEPARATE ACCOUNTS

M. VOTING RIGHTS OF CONTRACT OWNERS

Contract Owners and/or vested Participants will have the right to vote on
matters affecting the underlying Fund to the extent that proxies are
solicited by such Fund. If a Contract Owner does not vote, Hartford shall
vote such interest in the same proportion as shares of the Fund for which
instructions have been received by Hartford (see "What are my voting rights?"
commencing on page ).

<PAGE>

ACCUMULATION UNIT VALUES

[To be Provided by Amendment]

<PAGE>

PERFORMANCE RELATED INFORMATION

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

The Advisers Fund, Bond Fund, Calvert Responsibly Invested Balanced Fund,
Capital Appreciation Fund, Dividend and Growth Fund, Index Fund,
International Opportunities Fund, Money Market Fund, Mortgage Securities
Fund, and Stock Fund Sub-Accounts may include total return in advertisements
or other sales material.

When a Sub-Account advertises its standardized total return, it will
usually be calculated for one year, five years, and ten years or some other
relevant periods if the Sub-Account has not been in existence for at least
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 (assuming the deduction of any
contingent deferred sales charge which would be payable if the investment
were redeemed at the end of the period). Total return figures are not of all
Fund level management fees and charges, the mortality and expense risk
charge and the Annual Contract Fee.

The Bond Fund and Mortgage Securities Fund Sub-Accounts 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
30 day period is divided by the unit value on the last day of the period.
This figure reflects the recurring charges on the Separate Account level
including the Annual Contract Fee and the mortality and expense risk charge.

The Money Market Fund Sub-Account may advertise yield and effective
yield. The yield of the Sub-Account is based upon the income earned by the
Sub-Account over a seven-day period and then annualized, i.e. the income
earned in the period is assumed to be earned every seven 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 on the Separate Account level including the Annual Contract Fee and
the mortality and expense risk charge.

Total return at the Separate Account level includes all contract charges:
contingent deferred sales charges, mortality and expense risk charges, and
the Annual Contract Fee and is therefore lower than total return at the Fund
level, with no comparable charges. Likewise, yield at the Separate Account
level includes all recurring charges (except sales charges), and is therefore
lower than yield at the Fund level, with no comparable charges.

INTRODUCTION

This Prospectus has been designed to provide you with the necessary
information to make a decision on purchasing contracts issued in conjunction
with a Deferred Compensation Plan of an Employer offered by Hartford in a
Separate Account. This Prospectus describes only the elements of the
contracts pertaining to the variable portion of the contract. The contracts
may contain a General Account option which is not described in this
Prospectus. Please read the Glossary of Special Terms on pages and
prior to reading this Prospectus to familiarize yourself with the terms being
used.

<PAGE>

THE CONTRACTS AND
THE SEPARATE ACCOUNTS

WHAT ARE THE CONTRACTS?

The Contracts are issued in conjunction with a Deferred Compensation Plan
of an Employer. Variable account Contributions are held in Hartford Life
Insurance Company DC Variable Account-I ("DC-I") during the Accumulation
Period and in a series of Hartford Life Insurance Company Separate Account
Two ("DC-II") during the Annuity Period.

Deferred Compensation Plans provide a way for an Employer and its
Employees to arrange for eligible employees to defer a certain portion of
their income ("Deferred Compensation") to a determinable future date and
thereby defer current federal income taxes on such deferred compensation
until actually received by the Employee according to the terms of the
Employer's Plan. An Employer contemplating the offering of such a Plan
should consult with its legal counsel with respect to any securities aspects
of interest in such Plans. At all times, the Employer is the sole and
exclusive owner of the contract issued with respect to the Plan. An Employee
electing to participate in the Employer's Plan is, at all times, a general
creditor of the Employer establishing the Plan.

The Small Business Job Protection Act of 1996, effective August 20, 1996,
requires that all assets and income of an eligible Deferred Compensation Plan
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.

WHO CAN BUY THESE CONTRACTS?

The group variable annuity contracts offered under this Prospectus are
for use in connection with certain eligible deferred compensation plans as
defined in Section 457 of the Internal Revenue Code.

WHAT ARE THE SEPARATE ACCOUNTS AND HOW DO THEY OPERATE?

Provision has been made for two different Separate Accounts (DC-I and a
series of Separate Account Two (DC-II)), to be operative during the life of
the contracts which are issued in conjunction with Deferred Compensation
Plans. This arrangement provides for tax treatment of DC-I which may provide
tax advantages to Deferred Compensation Plan Contract Owners. (see "Federal
Tax Considerations," commencing on page __ .) The Separate Accounts meet
the definition of "separate account" under federal securities law.

Registration of the Separate Accounts with the Commission does not
involve supervision of the management or investment practices or policies of
the Separate Account or of Hartford by the Commission. However, Hartford and
the Separate Accounts are subject to supervision and regulation by the
Department of Insurance of the State of Connecticut.

Under Connecticut law, the assets of the Separate Accounts 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.
Also, in accordance with the contracts, the assets in the Separate Accounts
attributable to contracts participating in the Separate Accounts are not
chargeable with liabilities arising out of any other business Hartford may
conduct. So, you will not be affected by the rate of return of Hartford's
general account, nor by the investment performance of any of Hartford's other
separate accounts.

Your contributions are allocated to one or more Sub-Accounts of the
Separate Account. Each Sub-Account is invested exclusively in the assets of
one underlying Fund. Contributions and proceeds of transfers between
Sub-Accounts are applied to purchase shares in the appropriate Fund at net
asset value determined as of the end of the Valuation Period during which the
payments were received or the transfer made. All distributions from the Fund
are reinvested at net asset value. The value of your investment during the
Accumulation Period will therefore vary in accordance with the net income and
fluctuation in the individual investments within the underlying Fund
portfolio or portfolios. During the Variable Annuity payout period, both
your annuity payments and reserve values will vary in accordance with these
factors.

<PAGE>

HARTFORD DOES NOT GUARANTEE THE INVESTMENT RESULTS OF THE SUB-ACCOUNTS OR
ANY OF THE UNDERLYING INVESTMENTS. 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 SUM OF ALL CONTRIBUTIONS 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 FUND PROSPECTUS.

Hartford reserves the right, subject to compliance with the law, to
substitute the shares of any other registered investment company for the
shares of any Fund held by the Separate Account. Substitution may occur if
shares of the Fund(s) become unavailable or due to changes in applicable law
or interpretations of law. Current law requires notification to you of any
such substitution and approval of the Securities and Exchange Commission.

Hartford also reserves the right, subject to compliance with the law to
offer additional Sub-Accounts with differing investment objectives.

Hartford may offer additional separate account options from time to time
under these contracts. Such new options will be subject to the then in
effect charges, fees, and or transfer restrictions for the contracts for such
additional separate accounts.

OPERATION OF THE CONTRACT

HOW ARE CONTRIBUTIONS CREDITED?

A group contract is issued to an Employer adopting a Plan and will cover
all present and future Participants in the Employer's Plan. Contracts
provide for variable (Separate Account) Contributions and allocations to the
General Account during the Accumulation Period.

The number of Accumulation Units purchased is determined by dividing the
Contribution amount by the appropriate Accumulation Unit Value on the date
the Contribution is credited to the Participant's Individual Account. Initial
Contributions are credited to a Participant's Individual Account within two
days of receipt of a properly completed application and the initial
Contribution. Subsequent Contributions are credited to a Participant's
Individual Account on the date following receipt of the Contribution by
Hartford at its home office, P.O. Box 2999, Hartford, CT 06104-2999 (or other
address as directed). If an application or any other information is
incomplete when received, Contributions will be credited to the Participant's
Individual Account within five business days. If an initial contribution is
not credited within five business days, it will be immediately returned
unless you have been informed of the delay and request that the Contribution
not be returned. Subsequent payments cannot be credited on the same day of
receipt unless they are accompanied by adequate instructions.

MAY I MAKE CHANGES IN THE AMOUNTS OF MY CONTRIBUTION?

Yes, however the minimum Contribution that may be made at any one time on
behalf of a Participant during the Accumulation Period under a contract is
$30 unless the Employer's Plan provides otherwise. If the Plan adopted by
the Contract Owner so provides, the contract permits the allocation of
Contributions, in multiples of 10% among the several Sub-Accounts of the
Separate Accounts. The minimum amount that may be allocated to any
Sub-Account in a Separate Account shall not be less than $10. Such changes
must be requested in the form and manner prescribed by Hartford.

MAY I TRANSFER ASSETS BETWEEN SUB-ACCOUNTS?

Yes, during the Accumulation Period you may transfer the values of your
Sub-Account allocations from one or more Sub-Accounts to another.

<PAGE>

The following transfer restrictions apply to contracts issued or amended
on or after May 1, 1992.

Similarly, transfers of assets presently held in the Money Market Fund
Sub-Account, or any money market sub-account established in the future, or
which where held in any of these Sub-Accounts during the preceding three
months, to the General Account are prohibited.

Transfers between Sub-Accounts and changes in Sub-Account allocations may
be made by written request or by calling 1-800-528-9009. Any transfers or
changes made in writing will be effected as of the date the request is
received by Hartford at its home office, P.O. Box 2999, Hartford, CT
06104-2999. The policy of Hartford 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. Hartford will employ reasonable
procedures to confirm that instructions communicated by telephone are
genuine; otherwise Hartford may be liable for any losses due to unauthorized
or fraudulent instructions. The procedures Hartford follows for transactions
initiated by telephone include requirements that Participant's provide
certain identifying information. All transfer instructions by telephone are
recorded.

In addition, the right, with respect to a Participant's Individual
Account, to transfer monies between Sub-Accounts is subject to modification
if Hartford determines, in its sole opinion, that the exercise of that right
by the Contract Owner/Participant is, or would be, to the disadvantage of
other Contract Owners/Participants. Any modification could be applied to
transfers to or from the same or all of the Accounts 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 Participant or Contract Owner, or
limiting the dollar amount that may be transferred between Sub-Accounts by a
Contract Owner/ Participant 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 Hartford to be to the disadvantage of other
Contract Owners/ Participants.

WHAT HAPPENS IF THE CONTRACT OWNER FAILS TO MAKE CONTRIBUTIONS?

A contract will be deemed paid-up within 30 days after any anniversary
date of the contract if the Contract Owner has not remitted a Contribution to
Hartford during the preceding 12 month period. Effective with a change of
the contract to paid-up status, no further Contributions will be accepted by
Hartford and each Participant's Individual Account will be considered an
inactive account until the commencement of Annuity payments or until the
value of the Participant's Individual Account is disbursed or applied in
accordance with the termination provisions. (See "How can a contract be
redeemed or surrendered?" page _). Once a contract has been placed on a
paid-up status it may not be reinstated. Persons receiving Annuity payments
at the time of any change to paid-up status will continue to receive their
payments.

MAY I ASSIGN OR TRANSFER THE CONTRACT?

The group contracts issued with respect to Deferred Compensation Plans
may be assigned by the Contract Owner. No assignment will be effective until
a copy has been filed at the offices of Hartford at Hartford, Connecticut,
prior to settlement for Hartford's liability under the contract. Hartford
assumes no responsibility for the validity of any such assignments.
Participants may not assign their individual account interests.

HOW DO I KNOW WHAT MY ACCOUNT IS WORTH?

The value of the Accumulation Units in a Separate Account representing an
interest in the appropriate Fund shares that are held under the contract were
initially established on the date that Contributions were first contributed
to the appropriate Sub-Account of the Separate Account. The value of the
respective Accumulation Units for any subsequent day is determined by
multiplying the Accumulation Unit value for the preceding day by the net
investment factor of the appropriate Sub-Account, as appropriate (see "How is
the Accumulation Unit value determined?" below).

The value of a Participant's Individual Account under a contract at any
time prior to the commencement of Annuity payments can be determined by
multiplying the total number of Sub-Account Accumulation Units credited to a

<PAGE>

Participant's Individual Account by the current Accumulation Unit value for
the respective Sub-Account. There is no assurance that the value in the
Sub-Accounts will equal or exceed the Contributions made by the Contract
Owner to such Sub-Accounts.

HOW IS THE ACCUMULATION UNIT VALUE DETERMINED?

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 the net asset value per share
of the corresponding Fund at the end of the Valuation Period (plus the per
share amount of any dividends or capital gains 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 and subtracting from that amount the amount of any charges
assessed during the Valuation Period then ending. You should refer to the
Prospectuses for each of the Funds which accompany 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.

HOW ARE THE UNDERLYING FUND SHARES VALUED?

The shares of the Fund are valued at net asset value on a daily basis. A
complete description of the valuation method used in valuing Fund shares may
be found in the accompanying Prospectus of each Fund.

PAYMENT OF BENEFITS

WHAT WOULD MY BENEFICIARY RECEIVE AS DEATH PROCEEDS?

The contracts provide that in the event the Participant dies before the
selected Annuity Commencement Date or the Participant's age 65 (whichever
occurs first) the Minimum Death Benefit payable on such contract will be the
greater of (a) the value of the Participant's Individual Account determined
as of the day written proof of death of such person is received by Hartford,
or (b) 100% of the total Contributions made to such Account, reduced by any
prior partial surrenders.

The benefit may be taken by the Contract Owner in a single sum, in which
case payment will be made within seven days of receipt of proof of death by
Hartford, unless subject to postponement as explained below. In lieu of
payment in one sum, a Contract Owner may elect that the amount be applied,
subject to the suspension provisions described below, under any one of the
optional Annuity forms provided under DC-II (see "What are the available
Annuity options under the contracts?" commencing on page ) to provide
Annuity payments to the Beneficiary.

An election to receive death benefits under a form of Annuity must be
made prior to a lump sum settlement with Hartford and within one year after
the death by written notice to Hartford at its offices in Hartford,
Connecticut. Benefit proceeds due on death may be applied to provide variable
payments, fixed payments, or a combination of variable and fixed payments.
No election to provide Annuity payments will become operative unless the
initial Annuity payment is at least $20.00 on either a variable or fixed
basis, or $20.00 on each basis when a combination benefit is elected. The
manner in which the Annuity payments are determined and in which they may
vary from month to month are the same as applicable to a Participant's
Individual Account after retirement (see "How are Contributions made to
establish my Annuity account?" page ).

HOW CAN A CONTRACT BE REDEEMED OR SURRENDERED?

On termination of Contributions to a contract by the Contract Owner on
behalf of a Participant prior to the selected Annuity Commencement Date for
such Participant, the Contract Owner will have the following options:

<PAGE>

selected Annuity option under the contract. (See "What are the available
Annuity options under the contracts?" commencing on page .) At any time in
the interim, a Contract Owner may surrender a Participant's Individual
Account for a lump sum cash settlement in accordance with 3. below.

2. To provide Annuity payments immediately. The values in a
Participant's Individual Account may be applied, subject to contractual
provisions, to provide for Fixed or Variable Annuity payments, or a
combination thereof, commencing immediately, under the selected Annuity
option under the contract. (See "What are the available Annuity options
under the contracts?" commencing on page .)

3. To surrender a Participant's Individual Account under the contract
for a lump sum cash settlement, in which event any applicable contingent
deferred sales charges will be deducted. (See "How are the charges under
these contracts made?" commencing on page .) The amount received will be
the net termination value next computed after receipt by Hartford at its home
office, P.O. Box 2999, Hartford, CT 06104-2999, of a written surrender
request for complete surrender. Payment will normally be made as soon as
possible but not later than seven days after the written request is received
by Hartford.

4. In the case of a partial surrender the amount requested is either
taken out of the specified Sub-Account(s) or if no Sub-Account(s) are
specified, the requested amount is taken out of all applicable Sub-Account(s)
on a pro rata basis. Within this context, the contingent deferred sales
charges are taken as a percentage of the amount withdrawn (see "How are the
charges under these contracts made?" page ). If the contingent deferred
sales charges have been experience rated (see "How are the charges under
these contracts made?", page ), any amounts not subject to the contingent
deferred sales charge will be deemed to be surrendered last.

CAN PAYMENT OF THE REDEMPTION OR SURRENDER VALUE EVER BE POSTPONED BEYOND THE
SEVEN DAY PERIOD?

Yes. It may be postponed 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 Securities and Exchange
Commission; (b) the Securities and Exchange Commission permits postponement
and so orders; or (c) the Securities and Exchange Commission determines that
an emergency exists making valuation of the amounts or disposal of securities
not reasonably practicable.

MAY I SURRENDER ONCE ANNUITY PAYMENTS HAVE STARTED?

Except with respect to Option 5 (on a variable payout), once Annuity
payments have commenced for an Annuitant, no surrender of a life Annuity
benefit can be made for the purpose of receiving a partial withdrawal or a
lump sum settlement in lieu thereof. Any surrender out of Option 5 will be
subject to contingent deferred sales charges, if applicable.

ARE THERE DIFFERENCES IN THE CONTRACT RELATED TO THE TYPE OF PLAN IN WHICH THE
PARTICIPANT IS ENROLLED?

Annuity Rights are provided under contracts issued only in conjunction
with Deferred Compensation Plans, with respect to DC-I only, entitling the
Contract Owner to have Annuity payments at the rates set forth in the
contract at the time of issue. Such rates will be made applicable to all
amounts held in a Participant's Individual Account during the Annuity Period
under such contract which do not exceed five times the gross Contributions
made during the Accumulation Period with respect to such Participant's
Individual Account thereunder. To the extent that the value of a
Participant's Individual Account at the end of the Accumulation Period is
insufficient to fund the Annuity Rights provided, the Contract Owner shall
have the right to apply additional Contributions to the values held in a
Participant's Individual Account in order to exercise all of the Annuity
Rights provided. Any amounts in excess thereto may be applied by Hartford at
Annuity rates then being offered by Hartford.

CAN A CONTRACT BE SUSPENDED BY A CONTRACT OWNER?

A contract may be suspended by the Contract Owner by giving written
notice at least 90 days prior to the effective date of such suspension to
Hartford at its home office, P.O. Box 2999, Hartford, Connecticut 06104-2999.
A contract will be suspended automatically on its anniversary if the
Contract Owner fails to assent to any modification of a contract, as
described under the caption "Can a contract be modified?" which modifications
would have become effective on or before that anniversary. Upon suspension,
Contributions will continue to be accepted by Hartford under the contract,

<PAGE>

and subject to the terms thereof, as they are applicable to Participant's
Individual Accounts under the contracts prior to such suspension, but no
Contributions will be accepted on behalf of any new Participant's Individual
Accounts. Annuitants at the time of any suspension will continue to receive
their Annuity payments. The suspension of a contract will not preclude the
Contract Owner's applying existing Participant's Individual Accounts under
DC-I or DC-II, as appropriate, to the purchase of Fixed or Variable Annuity
benefits.

HOW DO I ELECT AN ANNUITY COMMENCEMENT DATE AND FORM OF ANNUITY?

The Contract Owner selects an Annuity Commencement Date, usually between
a Participant's 50th and 75th birthdays, and an Annuity Option. The Annuity
Commencement Date may not be deferred beyond a Participant's 75th birthday or
such earlier date as may be required by applicable law and/or regulation. The
Annuity Commencement Date and/or the Annuity option may be changed from time
to time, but any such change must be made at least 30 days prior to the date
on which Annuity payments are scheduled to begin. Annuity payments will
normally be made on the first business day of each month.

The contract contains five optional annuity forms which may be selected
on either a Fixed or Variable Annuity basis, or a combination thereof. If a
Contract Owner does not elect otherwise, Hartford reserves the right to begin
Annuity payments at age 75 under Option 2 with 120 monthly payments certain.
However, Hartford will not assume responsibility in determining or monitoring
minimum distributions beginning at age 70 1/2.

When an Annuity is purchased by a Contract Owner for an Annuitant, unless
otherwise specified, DC-I or DC-II Accumulation Unit values will be applied
to provide a Variable Annuity under DC-II.

WHAT IS THE MINIMUM AMOUNT THAT I MAY SELECT FOR AN ANNUITY PAYMENT?

The minimum Annuity payment is $20.00. No election may be made which
results in a first payment of less than $20.00. If at any time Annuity
payments are or become less than $20.00, Hartford has the right to change the
frequency of payment to intervals that will result in payments of at least
$20.00.

HOW ARE CONTRIBUTIONS MADE TO ESTABLISH MY ANNUITY ACCOUNT?

During the Annuity Period, contract values and any allowable additional
Contributions made by the Contract Owner for the purpose of effecting Annuity
payments under the contract (Deferred Compensation Plans Only) are, based
upon the information received from the Contract Owner, applied to establish
Annuitant's Accounts under the contracts to provide Fixed or Variable Annuity
payments.

At the end of the Accumulation Period with respect to a Participant's
Individual Account there is an automatic transfer of all DC-I values to DC-II
which are used to establish Annuitant's Accounts with respect to DC-II. Such
transfer will be effected by a transfer of ownership of DC-I interests in the
underlying securities to DC-II. The value of a Participant's Individual
Account that is transferred to DC-II hereunder will be without application of
any sales charges or other expenses, with the exception of any applicable
Premium Taxes. DC-II values held during the Accumulation Period under a
contract are retained in DC-II.

WHAT ARE THE AVAILABLE ANNUITY OPTIONS UNDER THE CONTRACTS?

OPTION 1: LIFE ANNUITY

A life annuity is an Annuity payable during the lifetime of the Annuitant
and terminating with the last monthly payment preceding the death of the
Annuitant. This option offers the maximum level of monthly payments of any
of the other life annuity options (Options 2-4) since there is no guarantee
of a minimum number of payments nor a 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 due 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,

<PAGE>

payments have been made for less than the minimum elected number of months,
then any remaining guaranteed monthly payments will be paid to the
Beneficiary or Beneficiaries designated unless other provisions will have
been made and approved by Hartford.

OPTION 3: UNIT REFUND LIFE ANNUITY

This Annuity option is an Annuity payable monthly during the lifetime of
the Annuitant terminating with the last payment due prior to the death of the
Annuitant except that an additional payment will be made to the Beneficiary
or Beneficiaries if (a) below exceeds (b) below:

total amount applied under the option at
the Annuity Commencement Date
(a) = ----------------------------------------------------
Annuity Unit value at the Annuity Commencement Date

</TABLE>

number of Annuity Units represented number of monthly
(b) = by each monthly Annuity Payment made x Annuity Payments made

</TABLE>

The amount of the additional payments will be determined by multiplying
such excess by the Annuity Unit value as of the date that proof of death is
received by Hartford.

OPTION 4: 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.

At the Annuitant's death, payments will continue to be made to the
contingent annuitant, if living for the remainder of the contingent
annuitant's life. When the Annuity is purchased, the Annuitant elects what
percentage (50%, 66 2/3%, or 100%) of the monthly Annuity payment will
continue to be paid to the contingent annuitant.

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

OPTION 5: PAYMENTS FOR A DESIGNATED PERIOD

An amount payable monthly for the number of years selected. Under the
contracts the minimum number of years is five.

In the event of the Annuitant's death prior to the end of the designated
period, any then remaining balance of proceeds will be paid in one sum to the
Beneficiary of Beneficiaries designated unless other provisions will have
been made and approved by Hartford. Option 5 is an option that does not
involve life contingencies and thus no mortality guarantee.

Surrenders are subject to the limitations set forth in the contract and
any applicable contingent deferred sales charges. (See "How are charges
under these contracts made?" page _.)

Under any of the Annuity options above, except Option 5 (on a variable
basis), no surrenders are permitted after Annuity payments commence.

HOW ARE VARIABLE ANNUITY PAYMENTS DETERMINED?

The value of the Annuity Unit for each Sub-Account in the Separate
Account for any day is determined by multiplying the value for the preceding
day by the product of (1) the net investment factor (see "How is the
Accumulation Unit value determined?" commencing on page ) for the day for
which the Annuity Unit value is being calculated, and (2) a factor to
neutralize the assumed net investment rate discussed below.

When Annuity payments are to commence, the value of the contract is
determined as the product of the value of the Accumulation Unit credited to
each Sub-Account no earlier than the close of business on the fifth business
day preceding the date the first Annuity payment is due and the number of
Accumulation Units credited to each Sub-Account as of the date the Annuity is
to commence.

The first monthly payment varies according to the form of Annuity
selected. The contract cites Annuity tables derived from the 1983a Individual
Annuity Mortality Table with an assumed interest rate ("A.I.R.") of 4.00% or
5.00% per annum. The total first monthly Annuity payment is determined by
multiplying the value (expressed in thousands of dollars) of a Sub-Account

<PAGE>

(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. With
respect to fixed annuities only, the current rate will be applied if it is
higher than the rate under the tables in the contract.

Level Annuity payments would be provided if the net investment rate
remained constant and equal to the A.I.R. In fact, payments will vary up or
down in the proportion that the net investment rate varies up or down from
the A.I.R. A higher A.I.R. may produce a higher initial payment but more
slowly rising and more rapidly falling subsequent payments than would a lower
interest rate assumption.

The amount of the first monthly Annuity payment, determined as described
above, is divided by the value of an Annuity Unit for the appropriate
Sub-Account as of the close of business on the fifth business 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 Period, and in each subsequent month the
dollar amount of the Annuity payment is determined by multiplying this fixed
number of Annuity Units by the then current Annuity Unit value.

The Annuity payments will be made on the date selected. The Annuity Unit
value used in calculating the amount of the Annuity payments will be based on
an Annuity Unit value determined as of the close of business on a day not
more than the fifth business day preceding the date of the Annuity payment.

HERE IS AN EXAMPLE OF HOW A VARIABLE ANNUITY IS DETERMINED:

ILLUSTRATION OF ANNUITY PAYMENTS: (UNISEX) AGE 65, LIFE ANNUITY WITH 120
PAYMENTS CERTAIN

1. Net amount applied. . . . . . . . . . . . . . . . . . . $139,782.50
2. Initial monthly income per $1,000 of payment applied. . 6.13
3. Initial monthly payment (1 X 2 - 1,000) . . . . . . . . 856.87
4. Annuity Unit Value. . . . . . . . . . . . . . . . . . . 3.125
5. Number of monthly annuity units (3 DIVIDED BY 4). . . . 274.198
6. Assume annuity unit value for second month equal to . . 2.897
7. Second monthly payment (6 X 5). . . . . . . . . . . . . 794.35
8. Assume annuity unit value for third month equal to. . . 3.415
9. Third month payment (8 X 5) . . . . . . . . . . . . . . 936.39

</TABLE>

The above figures are simply to illustrate the calculation of a variable
annuity and have no bearing on the actual historical record of any Separate
Account.

CAN A CONTRACT BE MODIFIED?

The contracts may, subject to any federal and state regulatory
restrictions, be modified at any time by written agreement between the
Contract Owner and Hartford. No modification will affect the amount or term
of any Annuities begun prior to the effective date of the modification,
unless it is required to conform the contract to, or give the Contract Owner
the benefit of, any federal or state statutes or any rule or regulation of
the U.S. Treasury Department or Internal Revenue Service.

On or after the fifth anniversary of any contract Hartford may change,
from time to time, any or all of the terms of the contracts by giving 90 days
advance written notice to the Contract Owner, except that the Annuity tables,
guaranteed interest rates and the contingent deferred sales charges which are
applicable at the time a Participant's Individual Account is established
under a contract, will continue to be applicable.

At any time Hartford reserves the right to modify the contract 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
Hartford 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 Hartford will provide
notice to the Contract Owner or to the payee(s) during the Annuity period.
Hartford may also make appropriate endorsement in the contract to reflect
such modification.

<PAGE>

CHARGES UNDER THE CONTRACT

HOW ARE THE CHARGES UNDER THESE CONTRACTS MADE?

No deduction for sales expense is made at the time of allocation of
Contributions to the contracts. A deduction for contingent deferred sales
charges is made if there is any surrender of contract values during the first
7 Participant's Contract Years. During the first 2 years thereof, a maximum
deduction of 5% will be made against the full amount of any such surrender.
During the third and fourth years thereof, a maximum deduction of 4% will be
made against the full amount of any such surrender. During the fifth year
thereof, a maximum deduction of 3% will be made against the full amount of
any such surrender. During the sixth year thereof, a maximum deduction of 2%
will be made against the full amount of any such surrender. During the
seventh year thereof, a maximum deduction of 1% will be made against the full
amount of any such surrender. Such charges will never exceed 8.5% of
aggregate Contributions to a Participant's Individual Account. The amount or
term of the contingent deferred sales charge may be reduced (see "Experience
Rating of Contracts", page __).

In the case of a redemption in which you request a certain dollar amount
be withdrawn, the sales charge is deducted from the amount withdrawn and the
balance is paid to you. Example: You request a total withdrawal, your
account value is $1,000 and the applicable sales load is 5%. Your
Sub-Account(s) will be surrendered by $1,000 and you will receive $950 (i.e.,
the $1,000 total withdrawal less the 5% sales charge). This is the method
applicable on a full surrender of your contract. In the case of a partial
redemption in which you request to receive a specified amount, the sales
charge will be calculated on the total amount that must be withdrawn from
your Sub-Account(s) in order to provide you with the amount requested.
Example: You request to receive $1,000 and the applicable sales load is 5%.
Your Sub-Account(s) will be reduced by $1,052.63 (i.e., a total withdrawal of
$1,052.63 which results in a $52.63 sales charge ($1,052.63 x 5%) and a net
amount paid to you of $1,000 as requested).

Hartford reserves the right to limit any increase in the Contributions
made to a Participant's Individual Account under any contract to not more
than three times the total Contributions made on behalf of such Participant
during the initial 12 consecutive months following the Date of Coverage.
Increases in excess of those described will be accepted only with the consent
of Hartford and subject to the then current deductions being made under the
contracts.

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.

WHAT DO THE SALES CHARGES COVER?

The contingent deferred sales charges, when applicable, will be used to
cover expenses relating to the sale and distribution of the contracts,
including commissions paid to any distribution organization and its sales
personnel, the cost of preparing sales literature and other promotional
activities. It is anticipated that gross commissions paid on the sale of the
contracts will not exceed 5% of a Contribution. To the extent that these
charges do not cover such distribution expenses they will be borne by
Hartford from its general assets, including surplus or possible profit from
mortality and expense risk charges.

WHAT IS THE MORTALITY, EXPENSE RISK AND ADMINISTRATIVE CHARGE?

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) Hartford's
actual mortality experience among Annuitants before or after retirement or
(b) Hartford's actual expenses, including certain administrative expenses, if
greater than the deductions provided for in the contracts because of the
mortality and expense undertakings by Hartford.

In providing an expense undertaking with respect to both DC-I and DC-II,
Hartford assumes the risk that the deductions for contingent deferred sales
charges, and the Annual Contract Fee under the contracts may be insufficient
to cover the actual future costs.

<PAGE>

The mortality undertaking provided by Hartford under the contracts,
assuming the selection of one of the forms of life annuities, is to make
monthly Annuity payments (determined in accordance with the annuity tables
and other provisions contained in the contract) to Contract Owners on
Annuitants' Accounts regardless of how long all Annuitants may live and
regardless of how long all Annuitants as a group may live. This undertaking
assures a Contract Owner that neither the longevity of an Annuitant nor an
improvement in life expectancy will have any adverse effect on the monthly
Annuity payments the Employee will receive under the contract. It thus
relieves the Contract Owner from the risk that Participants in the Plan will
outlive the funds accumulated. The mortality undertaking is based on
Hartford's present actuarial determination of expected mortality rates among
all Annuitants.

If actual experience among Annuitants deviates from Hartford's actuarial
determination of expected mortality rates among Annuitants because, as a
group, their longevity is longer than anticipated, Hartford must provide
amounts from its general funds to fulfill its contract obligations. In that
event, a loss will fall on Hartford. Conversely, if longevity among
Annuitants is lower than anticipated, a gain will result to Hartford.
Hartford also assumes the liability for payment of the Minimum Death Benefit
provided under the contract.

The administrative undertaking provided by Hartford assures the Contract
Owner that administration will be provided throughout the entire life of the
contract.

For assuming these risks Hartford 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 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 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.

EXPERIENCE RATING OF CONTRACTS

Certain of the charges and fees described in this Prospectus may be
reduced ("experience rated") for contracts depending on some or all of the
following factors: the total number of Participants, the sum of all
Participants' Individual Account values which are allocated to funds managed
by affiliates of Hartford, anticipated present or future expense levels,
anticipated present or future commission levels, and whether or not Hartford
is an exclusive annuity Contract provider. Experience rating of a contract
may be discontinued in the event of a change in the applicable factors.
Hartford, in its discretion, may experience rate a contact (either
prospectively or retrospectively) by: (1) reducing the amount or term of any
applicable contingent deferred sales charge, (2) reducing the mortality,
expense and administrative risk charge, or (3) by any combination of the
above. Reductions in these charges will not be unfairly discriminatory
against any person, including the affected Contractholders/Participants
funded by the Separate Account. Experience rating credits have been given on
certain cases. Participants in Contracts receiving experience rating credits
will receive notification regarding any reduction in charges or fees.

HOW MUCH ARE THE DEDUCTIONS FOR PREMIUM TAXES ON THESE CONTRACTS?

A deduction is also made for Premium Taxes, if applicable, imposed by a
state or other governmental entity. Certain states impose a Premium Tax,
ranging up to 3.50%. On any contract subject to Premium Taxes, Hartford will
pay the taxes when imposed by the applicable taxing authorities. Hartford,
at its sole discretion, will deduct the taxes from Contributions when
received, from the proceeds at surrender, or from the amount applied to
effect an Annuity at the time Annuity payments commence.

WHAT CHARGES ARE MADE BY THE FUNDS?

Deductions are made from assets of the Funds to pay for management fees
and the operating expenses of the Funds. A full description of the Funds,
their investment policies and restrictions, risks, charges and expenses and
all other aspects of their operation is contained in the accompanying
Prospectus for the Funds.

<PAGE>

ARE THERE ANY OTHER DEDUCTIONS?

Currently there is no transfer charge.

HARTFORD LIFE INSURANCE COMPANY
AND THE FUNDS

WHAT IS HARTFORD?

Hartford Life Insurance Company ("Hartford") is a stock life insurance
company engaged in the business of writing health and life insurance, both
individual and group, in all states of the United States and the District of
Columbia. Hartford was originally incorporated under the laws of
Massachusetts on June 5, 1902, and was subsequently redomiciled to
Connecticut. Its offices are located in Simsbury, Connecticut; however, its
mailing address is P.O. Box 2999, Hartford, CT 06104-2999. Hartford Life
Insurance Company (""Hartford'') is a stock life insurance company engaged in
the business of writing health and life insurance, both individual and group,
in all states of the United States and the District of Columbia. Hartford was
originally incorporated under the laws of Massachusetts on June 5, 1902, and
was subsequently redomiciled to Connecticut. Its offices are located in
Simsbury, Connecticut; however, its mailing address is P.O. Box 2999,
Hartford, CT 06104-2999. Hartford is a subsidiary of Hartford Fire Insurance
Company, one of the largest multiple lines insurance carriers in the
United States. Hartford is ultimately owned by ITT Hartford Group, Inc.,
a Delaware corporation.

Hartford is rated A+ (superior) by A.M. Best and Company, Inc., on the
basis of its financial soundness and operating performance. Hartford is
rated AA by Standard & Poor's and AA+ by Duff and Phelps on the basis of its
claims paying ability. These ratings do not apply to the investment
performance of the Sub-Accounts of the Separate Account. The ratings apply
to Hartford's ability to meet its insurance obligations, including those
described in this Prospectus.

WHAT ARE THE FUNDS?

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

HARTFORD ADVISERS FUND, INC.

To achieve maximum long term total rate of return consistent with prudent
investment risk by investing in common stock and other equity securities,
bonds and other debt securities, and money market instruments. The
investment adviser will vary the investments of the Fund among equity and
debt securities and money market instruments depending upon its analysis of
market trends. Total rate of return consists of current income, including
dividends, interest and discount accruals and capital appreciation.

HARTFORD BOND FUND, INC.

To achieve maximum current income consistent with preservation of capital
by investing primarily in 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 or "BB" by S&P) 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 Hartford Funds
entitled "Hartford Bond Fund, Inc. - Investment Policies."

HARTFORD CAPITAL APPRECIATION FUND, INC.

HARTFORD DIVIDEND AND GROWTH FUND, INC.

To seek a high level of current income consistent with growth of capital
and reasonable investment risk by investing primarily in equity securities
and securities convertible into equity securities.

HARTFORD INDEX FUND, INC.

To provide investment results that correspond to 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.*

<PAGE>

HARTFORD INTERNATIONAL OPPORTUNITIES FUND, INC.

To achieve long-term total return consistent with prudent investment risk
through investment primarily in equity securities issued by foreign companies.

HARTFORD MORTGAGE SECURITIES FUND, INC.

To achieve maximum current income consistent with safety of principal and
maintenance of liquidity by investing primarily in mortgage-related
securities, including securities issued by the Government National Mortgage
Association ("GNMA").

HARTFORD STOCK FUND, INC.

To achieve long-term capital growth primarily through capital
appreciation, with income a secondary consideration, by investing in
equity-type securities.

HVA MONEY MARKET FUND, INC.

To achieve maximum current income consistent with liquidity and
preservation of capital by investing in money market securities.

CALVERT RESPONSIBLY INVESTED BALANCED FUND (CALVERT RESPONSIBLY INVESTED
BALANCED PORTFOLIO SERIES OF ACACIA CAPITAL CORPORATION)

To seek growth of capital through investments in enterprises which make a
significant contribution to society through products and services and through
the way they do business. The Fund invests in a portfolio of stocks, bonds,
and money market instruments selected with a concern for the social impact of
each investment.

INVESTMENT ADVISERS

HL Investment Advisors, Inc. ("HL Investment") serves as the investment
adviser to all of the Funds except the Calvert Responsibly Invested Balanced
Portfolio.

Wellington Management Company, L.L.P. ("Wellington Management") serves
as sub-investment adviser for Hartford Advisers Fund, Hartford Capital
Appreciation Fund, Hartford Dividend and Growth Fund, Hartford International
Opportunities Fund, and Hartford Stock Fund.

In addition, HL Investment has entered an investment services agreement
with Hartford Investment Management Company, Inc., (""HIMCO''), pursuant to
which HIMCO will provide certain investment services to Hartford Bond Fund,
Hartford Index Fund, Hartford Mortgage Securities Funds, and HVA Money Market
Fund.

The Calvert Asset Management Company serves as investment adviser and
United States Trust Company of Boston serves as sub-investment-adviser to
Calvert Responsibly Invested Balanced Fund.

A full description of the Funds, their investment policies and
restrictions, risks, charges and expenses and all other aspects of their
operation is contained in the accompanying Funds' Prospectus which should be
read in conjunction with this Prospectus before investing and in the Funds'
Statement of Additional Information which may be ordered from Hartford.

ALL FUNDS

The Hartford Funds are available only to serve as the underlying
investment for the variable annuity and variable life insurance contracts
issued by Hartford.

* "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 Life Insurance Company and affiliates. The Hartford Index Fund,
Inc. ("Index Fund") is not sponsored, endorsed, sold or promoted by Standard
& Poor's ("S&P") and S&P makes no representation regarding the advisability
of investing in the Index Fund.

<PAGE>

It is conceivable that in the future it may be disadvantageous for
variable annuity separate accounts and variable life insurance separate
accounts to invest in the Funds simultaneously. Although Hartford and the
Funds do not currently foresee any such disadvantages either to variable
annuity Contract Owners or to variable life insurance policy owners, the
Funds' Board of Directors intends to monitor events in order to identify any
material conflicts between such Contract Owners and policy owners and to
determine what action, if any, should be taken in response thereto. If the
Board of Directors of the Funds were to conclude that separate funds should
be established for variable life and variable annuity separate accounts, the
variable annuity Contract Owners would not bear any expenses attendant to the
establishment of such separate funds, but variable annuity Contract Owners
and variable life insurance policy owners would no longer have the economics
of scale resulting from a larger combined fund.

Hartford reserves the right, subject to compliance with the law, to
substitute the shares of any other registered investment company for the
shares of any Fund held by the Separate Account. Substitution may occur if
shares of the Fund(s) become unavailable or due to changes in applicable law
or interpretations of law. Current law requires notification to you of any
such substitution and approval of the Securities and Exchange Commission.
Hartford also reserves the right, subject to compliance with the law to offer
additional Funds with differing investment objectives.

The Advisers Fund Sub-Account was not available under contracts issued
prior to May 2, 1983. The Capital Appreciation Fund Sub-Account was not
available under contracts issued prior to May 1, 1984. The Mortgage
Securities Fund Sub-Account was not available under contracts issued prior to
January 15, 1985. The Index Fund Sub-Account was not available under
contracts issued prior to May 1, 1987. The Dividend and Growth Fund
Sub-Account was not available under contracts issued prior to May 1, 1995.
Funds not available prior to the issue date of a contract may be requested in
writing by the Contract Owner.

DOES HARTFORD HAVE ANY INTEREST IN THE FUNDS?

As of December 31, 1996, certain Hartford group pension contracts held
direct interest in shares as follows:

PERCENT OF
SHARES TOTAL SHARES
------ ------------
<S> <C> <C>
[TO BE PROVIDED BY
AMENDEMENT]

Hartford Advisers Fund, Inc. ......................
Hartford Capital Appreciation Fund, Inc............
Hartford Index Fund, Inc...........................
Hartford International Opportunities Fund, Inc.....
Hartford Mortgage Securities Fund, Inc.............
Hartford Stock Fund, Inc...........................

</TABLE>

FEDERAL TAX CONSIDERATIONS

WHAT ARE SOME OF THE FEDERAL TAX CONSEQUENCES WHICH AFFECT THESE CONTRACTS?
A. GENERAL

SINCE THE TAX LAW IS COMPLEX AND SINCE TAX CONSEQUENCES WILL VARY
ACCORDING TO THE ACTUAL STATUS OF THE CONTRACT OWNER INVOLVED AND THE TYPE OF
PLAN UNDER WHICH THE CONTRACT IS PURCHASED, LEGAL AND TAX ADVICE MAY BE
NEEDED BY A PERSON, EMPLOYER OR OTHER ENTITY CONTEMPLATING THE PURCHASE OF A
CONTRACT DESCRIBED HEREIN.

It should be understood that any detailed description of the federal
income tax consequences regarding the purchase of these contracts cannot be
made in this Prospectus and that special tax rules may be applicable with
respect to certain purchase situations not discussed herein. For detailed
information, a qualified tax adviser should always be consulted. This
discussion is based on Hartford's understanding of existing federal income
tax laws as they are currently interpreted.

<PAGE>

B. HARTFORD AND DC-I AND DC-II

DC-I is not taxed as a part of Hartford. The taxation of DC-I is
governed by Subchapter M of Chapter 1 of the Internal Revenue Code of 1986,
as amended (the "Code") pursuant to an Internal Revenue Service ("IRS")
Private Letter Ruling issued with respect to DC-I. By distributing
substantially all of the net income and realized capital gains of DC-I to
Contract Owners no federal income tax liability will be incurred by DC-I on
the income and gain so distributed. While Hartford has no reason to believe
that the above referenced Private Letter Ruling will ever be withdrawn by the
IRS, in the event that it is the taxation of DC-I and DC-II would be
identical from the effective date of any such withdrawal.

DC-II is taxed as part of Hartford which is taxed as a life insurance
company in accordance with the Code. Accordingly, DC-II will not be taxed as
a "regulated investment company" under Subchapter M of the Code. Investment
income and any realized capital gains on the assets of DC-II are reinvested
and are taken into account in determining the value of the Accumulation and
Annuity Units. (See "How is the Accumulation Unit value determined?"
commencing on page__.) 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 DC-II with respect to qualified or non-qualified
contracts.

C. INFORMATION REGARDING CODE SECTION 457 DEFERRED COMPENSATION PLANS

These Contracts are designed for use in connection with eligible Deferred
Compensation Plans established and maintained by state or local governments
or tax-exempt organizations. The rules applicable to Deferred Compensation
Plans are complex and may vary depending on individual circumstances. Adverse
tax consequences may result from contributions that exceed applicable
limitations, distributions that do not conform to applicable commencement and
minimum distribution rules, and in other circumstances. Therefore, no
attempt is made to provide more than general information about the use of the
Contracts when owned by eligible employers in connection with Deferred
Compensation Plans. Contract Owners, Participants and Beneficiaries should
be aware that Hartford's administrative procedures do not encompass all
applicable contribution, distribution and other requirements and that
Contract Owners, Participants and Beneficiaries are responsible for
determining that contributions, distributions and other transactions comply
with applicable law. Because of the complexity of these rules, Contract
Owners, Participants and Beneficiaries are encouraged to consult their own
tax advisors as to specific tax consequences. Contract Owners, Participants
and Beneficiaries are cautioned that the rights of any person to any benefits
under a Deferred Compensation Plan may be subject to the terms and conditions
of the plan itself, regardless of the terms and conditions of the Contract,
but that Hartford is not bound by the terms and conditions of such plans to
the extent such terms conflict with the Contract, unless Hartford
specifically consents to be bound. A brief description of some of the
federal income tax rules which apply to Deferred Compensation Plans is set
forth below. Hartford may amend the Contract as necessary to conform to the
requirements of applicable law.

1. DEFERRED COMPENSATION PLANS UNDER SECTION 457 Employees and
independent contractors performing services for such employers may
contribute on a before tax basis to the Deferred Compensation Plan of
their employer in accordance with the employer's plan and Section 457 of
the Code. Section 457 places limitations on contributions to Deferred
Compensation Plans maintained by a State ("State" means a State, a
political sub-division of a State, and an agency or instrumentality of a
State or political sub-division of a State) or other tax-exempt
organization. Generally, the limitation is 33 1/3% of includable
compensation (typically 25% of gross compensation) or $7,500 (indexed),
whichever is less. The plan may also provide for additional "catch-up"
deferrals during the three taxable years ending before a Participant
attains normal retirement age.

An employee electing to participate in a Deferred Compensation Plan
should understand that his or her rights and benefits are governed strictly
by the terms of the plan and that the employer is the legal owner of any
contract issued with respect to the plan. The employer, as owner of the
contract(s), retains all voting and redemption rights which may accrue to the
contract(s) issued with respect to the plan. The participating employee
should look to the terms of his or her plan for any charges in regard to
participating therein other than those disclosed in this Prospectus.
Participants should also be aware that effective August 20, 1996, the Small
Business Job Protection Act of 1996 requires that all assets and income of an
eligible Deferred Compensation Plan 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 annuity contracts or custodial accounts)

<PAGE>

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. However, this requirement does not
apply to amounts under a Deferred Compensation Plan of a tax-exempt
(non-governmental) organization and such amounts will be subject to the
claims of such tax-exempt employer's general creditors.

In general, distributions from a Section 457 Deferred Compensation Plan are
prohibited unless made after the participating employee attains the age
specified in the plan, separates from service, dies, or suffers an
unforeseeable financial emergency. Present federal tax law does not allow
tax-free transfers or rollovers for amounts accumulated in a Section 457
plan except for transfers to other Section 457 plans in limited cases.

2. FEDERAL INCOME TAX AND TAX PENALTIES. In general, deferred amounts
under a Section 457 Deferred Compensation Plan are taxed as ordinary
wage income when amounts are paid or otherwise made available to the
Participant or Beneficiary.

a. MINIMUM REQUIRED DISTRIBUTIONS 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.

A Participant's interest in a Deferred Compensation Plan must generally
be distributed, or begin to be distributed, not later than April 1 of
the calendar year following the later of (i) the calendar year in which
the Participant attains age 70 1/2 or (ii) the calendar year in which
the Participant retires from service with the employer sponsoring the
plan ("required beginning date"). The entire interest of the
Participant must be distributed beginning no later than this required
beginning date over a period which may not extend beyond a maximum of
the life expectancy of the Participant and a 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.

b. WITHHOLDING In general, distributions from Section 457 Deferred
Compensation Plans are subject to regular wage withholding rules.

D. DIVERSIFICATION REQUIREMENTS

Section 817 of the Code 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 in accordance with regulations prescribed by the Treasury
Department. If a Contract is not treated as an annuity contract, the Contract
Owner will be subject to income tax on the annual increases in cash value.

The Treasury Department has issued diversification regulations which
generally require, among other things, that no more than 55% of the value of
the total assets of the segregated assets account underlying a variable
contract is represented by any one investment, no more than 70% is
represented by any two investment, 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 addition, in the case of government securities, each
government agency or instrumentality shall be treated as a separate issuer.

<PAGE>

diversification requirements, the company may 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.

Hartford monitors the diversification of investments in the separate
accounts and tests for diversification as required by the Code. Hartford
intends to administer all contracts subject to the diversification
requirements in a manner that will maintain adequate diversification.

E. OWNERSHIP OF THE ASSETS IN THE SEPARATE ACCOUNT

In order for a variable annuity contract to qualify for tax deferral,
assets in the segregated asset accounts supporting the variable contract must
be considered to be owned by the insurance company and not by the variable
contract owner. The IRS has issued several rulings which discuss investor
control. The IRS has ruled that 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.

Further, in the explanation to the temporary Section 817 diversification
regulations, the Treasury Department noted 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, no other such
guidance has been issued. Further, Hartford does not know if or in what form
such guidance will be issued. In addition, although regulations are
generally issued with prospective effect, it is possible that regulations may
be issued with retroactive effect. Due to the lack of specific guidance
regarding the issue of investor control, there is necessarily some
uncertainty regarding whether a Contract Owner could be considered the owner
of the assets for tax purposes. Hartford reserves the right to modify the
contracts, as necessary, to prevent Contract Owners from being considered the
owners of the assets in the separate accounts.

F. NON-NATURAL PERSONS, CORPORATIONS

The annual increase in the value of the contract is currently includable
in gross income of a non-natural person. There is an exception for annuities
held by structured settlement companies and annuities held by an employer
with respect to a terminated pension plan. 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.

G. 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.

MISCELLANEOUS

WHAT ARE MY VOTING RIGHTS?

<PAGE>

Owners. Hartford as such, shall have no right, except as hereinafter
provided, to vote any Fund shares held by it hereunder which may be
registered in its name or the names of its nominees. Hartford will, however,
vote the Fund shares held by it in accordance with the instructions received
from the Contract Owners for whose accounts the Fund shares are held. If a
Contract Owner desires to attend any meeting at which shares held for the
Contract Owner's benefit may be voted, the Contract Owner may request
Hartford to furnish a proxy or otherwise arrange for the exercise of voting
rights with respect to the Fund shares held for such Contract Owner's
account. In the event that the Contract Owner gives no instructions or
leaves the manner of voting discretionary, Hartford will vote such shares of
the appropriate Fund, including any of its own shares, in the same proportion
as shares of that Fund for which instructions have been received.

Every Participant under a contract issued with respect to DC-II who has a
full (100%) vested interest under a group contract, shall receive proxy
material and a form of instruction by means of which Participants may
instruct the Contract Owner with respect to the number of votes attributable
to his individual participation under a group contract.

A Contract Owner or Participant, as appropriate, is entitled to one full
or fractional vote for each full or fractional Accumulation or Annuity Unit
owned. The Contract Owner has voting rights throughout the life of the
contract. The vested Participant has voting rights for as long as
participation in the contract continues. Voting rights attach only to
Separate Account interests.

During the Annuity period under a contract the number of votes will
decrease as the assets held to fund Annuity benefits decrease.

WILL OTHER CONTRACTS BE PARTICIPATING IN THE SEPARATE ACCOUNTS?

HOW ARE THE CONTRACTS SOLD?

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. The principal business
address of HSD is the same as that of Hartford.

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

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.

Compensation will be paid by Hartford to registered representatives for
the sale of contracts up to a maximum of 5.0% of Contributions and 0.25%
annually on Participants' Individual Account Values. Sales compensation may
be reduced.

WHO IS THE CUSTODIAN OF THE SEPARATE ACCOUNTS' ASSETS?

Hartford is the custodian of the Separate Accounts' assets.

ARE THERE ANY MATERIAL LEGAL PROCEEDINGS AFFECTING THE SEPARATE ACCOUNTS?

ARE YOU RELYING ON ANY EXPERTS AS TO ANY PORTION OF THIS PROSPECTUS?

<PAGE>

authority of said firm as experts in giving said reports. Reference is made
to said report on the financial statements of Hartford Life Insurance Company
(the Depositor), which includes an explanatory paragraph with respect to the
change in method of accounting for debt and equity securities as of January
1, 1994, as discussed in Note 1 of Notes to Consolidated Financial
Statements. The principal business address of Arthur Andersen LLP is One
Financial Plaza, Hartford, Connecticut 06103.

HOW MAY I GET ADDITIONAL INFORMATION?

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

Hartford Life Insurance Company
Attn: RPVA Administration
P.O. Box 2999
Hartford, CT 06104-2999

<PAGE>

TABLE OF CONTENTS

FOR
STATEMENT OF ADDITIONAL INFORMATION

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

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

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

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

ANNUITY PERIOD . . . . . . . . . . . . . . . . . . . . . . . . . . . .

A. Annuity Payments . . . . . . . . . . . . . . . . . .. . . . . .

B. Electing the Annuity Commencement Date and Form of Annuity . .

C. Optional Annuity Forms . .. . . . . . . . . . . . . . . . . . .

OPTION 1: Life Annuity . . . . . . . . . . . . . . . . . . . .

OPTION 2: Life Annuity With 120, 180 or 240 Monthly
Payments Certain . . . . . . . . . . . . . . . . . . . . . . .

OPTION 3: Unit Refund Life Annuity . . . . . . . . . . . . . .

OPTION 4: Joint and Last Survivor Annuity . . . . . . . . . .

OPTION 5: Payments for a Designated Period . . . . . . . . . .

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

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

FINANCIAL STATEMENTS . . . . . . . . . . . . . . . . . . . . . . . . .

</TABLE>

<PAGE>

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

Attn: RPVA Administration
Hartford Life Insurance Companies
P.O. Box 2999
Hartford, CT 06104-2999

Please send a Statement of Additional Information for Separate Account DC-I
and Separate Account Two (DC-II) (Form HV-1879-9) to me at the following
address.

- ----------------------------------------
(name)

- ----------------------------------------
(address)

- ----------------------------------------
(city/state) (zip code)