HARTFORD LIFE INSURANCE CO DC VARIABLE ACCOUNT I, 497, 1998-05-05

HARTFORD LIFE INSURANCE CO DC VARIABLE ACCOUNT I
497, 1998-05-05

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<PAGE>

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

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 may
also contain additional separate accounts not described in this Prospectus.

Additionally, 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.

Advisers Fund -- shares of Class IA of Hartford Advisers HLS
Sub-Account Fund, Inc. ("Hartford Advisers Fund")
Bond Fund Sub-Account -- shares of Class IA of Hartford Bond HLS Fund,
Inc. ("Hartford Bond Fund")
Calvert Social Balanced -- shares of Calvert Social Balanced Fund Portfolio
Portfolio Sub-Account Series of Calvert Variable Series, Inc.
("Calvert Social Balanced Portfolio")
Capital Appreciation -- shares of Class IA of Hartford Capital
Fund Appreciation HLS Fund, Inc.
Sub-Account ("Hartford Capital Appreciation Fund")
Dividend and Growth Fund -- shares of Class IA of Hartford Dividend and
Sub-Account Growth HLS Fund, Inc.
("Hartford Dividend and Growth Fund")
Index Fund Sub-Account -- shares of Class IA of Hartford Index HLS Fund,
Inc. ("Hartford Index Fund")
International -- shares of Class IA of Hartford International
Opportunities Fund Opportunities HLS Fund, Inc.
Sub-Account ("Hartford International Opportunities Fund")
Money Market Fund -- shares of Class IA of Hartford Money Market HLS
Sub-Account Fund, Inc.
("Hartford Money Market Fund")
Mortgage Securities Fund -- shares of Class IA of Hartford Mortgage
Sub-Account Securities HLS Fund, Inc.
("Hartford Mortgage Securities Fund")
Stock Fund Sub-Account -- shares of Class IA of Hartford Stock HLS Fund,
Inc. ("Hartford Stock Fund")

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: AMS Service
Center Administration, P.O. Box 2999, Hartford, CT 06104-2999. The Securities
and Exchange Commission also maintains a Web site ("http://www.sec.gov") that
contains this Statement of Additional Information, material incorporated by
reference, and other information regarding registrants that file
electronically with the Securities and Exchange Commission. The Table of
Contents for the Statement of Additional Information may be found on page 33
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.
------------------------------------------------------------------------------

THE CONTRACT IS NOT A DEPOSIT OR OBLIGATION OF, OR GUARANTEED OR ENDORSED BY,
ANY BANK. IT IS NOT FEDERALLY INSURED BY THE FEDERAL DEPOSIT INSURANCE
CORPORATION, THE FEDERAL RESERVE BOARD, OR ANY GOVERNMENT AGENCY. INVESTMENT
IN A CONTRACT INVOLVES RISK, INCLUDING POSSIBLE LOSS OF THE PRINCIPAL AMOUNT
INVESTED.

------------------------------------------------------------------------------
THIS PROSPECTUS IS NOT VALID UNLESS ATTACHED TO THE CURRENT PROSPECTUSES FOR
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, 1998
Statement of Additional Information Dated: May 1, 1998

<PAGE>
TABLE OF CONTENTS

<TABLE>
<CAPTION>
SECTION PAGE
------------------------------------------------------------------------ ----
<S> <C>
GLOSSARY OF SPECIAL TERMS............................................... 3
FEE TABLE............................................................... 5
SUMMARY................................................................. 7
ACCUMULATION UNIT VALUES................................................ 9
PERFORMANCE RELATED INFORMATION......................................... 13
INTRODUCTION............................................................ 14
THE CONTRACTS AND THE SEPARATE ACCOUNTS................................. 14
What are the contracts?............................................... 14
Who can buy these contracts?.......................................... 14
What are the Separate Accounts and how do they operate?............... 14
OPERATION OF THE CONTRACT............................................... 15
How are Contributions credited?....................................... 15
May I make changes in the amounts of my Contribution?................. 16
May I transfer assets between Sub-Accounts?........................... 16
May I systematically transfer assets to the Sub-Accounts?............. 16
What happens if the Contract Owner fails to make Contributions?....... 17
May I assign or transfer the contract?................................ 17
How do I know what my account is worth?............................... 17
How is the Accumulation Unit value determined?........................ 17
How are the underlying Fund shares valued?............................ 18
PAYMENT OF BENEFITS..................................................... 18
What would my Beneficiary receive as death proceeds?.................. 18
How can a Participant's Individual Account be redeemed or
surrendered?......................................................... 18
Can payment of the redemption or surrender value ever be postponed
beyond the seven day period?......................................... 19
May I surrender once Annuity payments have started?................... 19
What are Annuity Rights?.............................................. 19
Can a contract be suspended by a Contract Owner?...................... 19
How do I elect an Annuity Commencement Date and Form of Annuity?...... 19
What is the minimum amount that I may select for an Annuity
payment?............................................................. 20
How are Contributions made to establish my Annuity account?........... 20
What are the available Annuity options under the contracts?........... 20
How are Variable Annuity payments determined?......................... 21
Can a contract be modified?........................................... 22
CHARGES UNDER THE CONTRACT.............................................. 22
How are the charges under these contracts made?....................... 22
Is there ever a time when the sales charges do not apply?............. 23
What do the sales charges cover?...................................... 23
What is the mortality, expense risk and administrative charge?........ 23
Experience Rating of Contracts........................................ 24
How much are the deductions for Premium Taxes on these contracts?..... 24
What charges are made by the Funds?................................... 24
Are there any other deductions?....................................... 24
HARTFORD LIFE INSURANCE COMPANY AND THE FUNDS........................... 25
What is Hartford?..................................................... 25
What are the Funds?................................................... 25
FEDERAL TAX CONSIDERATIONS.............................................. 27
What are some of the federal tax consequences which affect these
contracts?........................................................... 27
MISCELLANEOUS........................................................... 30
What are my voting rights?............................................ 30
Will other contracts be participating in the Separate Accounts?....... 31
Can Hartford waive any rights under the Contracts?.................... 31
How are the contracts sold?........................................... 31
Who is the custodian of the Separate Accounts' assets?................ 31
Are there any material legal proceedings affecting the Separate
Accounts?............................................................ 31
Are you relying on any experts as to any portion of this
Prospectus?.......................................................... 31
How may I get additional information?................................. 32
TABLE OF CONTENTS FOR STATEMENT OF ADDITIONAL INFORMATION............... 33
</TABLE>

2
<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.

ADMINISTRATIVE OFFICE OF HARTFORD: Currently located at 200 Hopmeadow Street,
Simsbury, CT. All correspondence concerning this Contract should be sent to P.O.
Box 2999, Hartford, CT 06104-2999 Attn: AMS Service Center Administration,
except for overnight or express mail packages, which should be sent to: 200
Hopmeadow Street, Simsbury, CT.

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 25 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.

3
<PAGE>
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 Plan 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.

SEPARATE ACCOUNTS: The Accounts 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 Accounts 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 (generally 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
<PAGE>

FEE TABLE
SUMMARY
Contract Owner Transaction Expenses
(All Sub-Accounts)

<TABLE>
<S> <C>
Sales Charge on Purchases (as a percentage of premium payments)... None
Exchange 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 Maintenance Fee............................................ $ 0

Annual Expenses -- Separate Account (as a percentage of average
account value)
Mortality and Expense Risk (DC-I) (1)
(.50% mortality, .15% expense and .25% administration)...... 0.900%
Mortality and Expense Risk (DC-II)
(.85% mortality, .15% expense and .25% administration)...... 1.250%
</TABLE>

- ---------

(1) The Mortality and Expense Risk charge under Separate Account DC-I is 0.750%
of the average daily net assets of DC-I for contract values which exceed $50
million.

The Contingent Deferred Sales Charge and Mortality and Expense Risk charge
may be reduced or eliminated. See "Charges Under the Contract -- Experience
Rating of Contracts," page 24.

Annual Fund Operating Expenses
(as a percentage of net assets)

<TABLE>
<CAPTION>
TOTAL FUND
OPERATING
OTHER EXPENSES
MANAGEMENT EXPENSES (AFTER ANY
FEES (AFTER FEE
(AFTER ANY ANY WAIVER AND
FEE EXPENSE EXPENSE
WAIVER) REIMBURSEMENT) REIMBURSEMENT)
---------- -------- ----------
<S> <C> <C> <C>
Hartford Bond Fund.............................. 0.490% 0.020% 0.510%
Hartford Stock Fund............................. 0.430% 0.020% 0.450%
Hartford Money Market Fund...................... 0.425% 0.015% 0.440%
Hartford Advisers Fund.......................... 0.610% 0.020% 0.630%
Hartford Capital Appreciation Fund.............. 0.620% 0.020% 0.640%
Hartford Mortgage Securities Fund............... 0.425% 0.025% 0.450%
Hartford Index Fund............................. 0.375% 0.015% 0.390%
Hartford International Opportunities Fund....... 0.680% 0.090% 0.770%
Calvert Social Balanced Portfolio (1)........... 0.690% 0.120% 0.810%
Hartford Dividend & Growth Fund................. 0.660% 0.020% 0.680%
</TABLE>

- ---------

(1) The figures above for the Calvert Social Balanced Portfolio reflect expenses
for fiscal year 1997, and have been restated to reflect an increase in
transfer agency expenses of 0.01% for the Portfolio expected to be incurred
in 1998. Management and Advisory Expenses includes a performance adjustment,
which depending on performance, could cause the fee to be as high as 0.85%
or as low as 0.55%. "Other Expenses" reflect an indirect fee. Net fund
operating expenses after reductions for fees paid indirectly (again,
restated) would be 0.78%.

5
<PAGE>

EXAMPLE-DCI (0.90% MORTALITY AND EXPENSE RISK CHARGE)

<TABLE>
<CAPTION>
If you surrender your Contract If you annuitize your Contract If you do not surrender your
at the end of the applicable at the end of the applicable Contract, you would pay the
time period, you would pay the time period, you would pay the following expenses on a $1,000
following expenses on a $1,000 following expenses on a $1,000 investment, assuming a 5%
investment, assuming a 5% investment, assuming a 5% annual return on assets:
annual return on assets: annual return on assets:

SUB-ACCOUNT 1 YEAR 3 YEARS 5 YEARS 10 YEARS 1 YEAR 3 YEARS 5 YEARS 10 YEARS 1 YEAR 3 YEARS 5 YEARS 10 YEARS
------------------------- ------ ------- ------- -------- ------ ------- ------- -------- ------ ------- ------- --------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Bond Fund................ $ 66 $ 100 $ 137 $ 213 $ 14 $ 45 $ 78 $ 170 $ 14 $ 45 $ 78 $ 170
Stock Fund............... 66 99 134 206 14 43 74 163 14 43 74 163
Money Market Fund........ 66 98 134 205 14 43 74 162 14 43 74 162
Advisers Fund............ 67 104 143 225 16 49 84 183 16 49 84 183
Capital Appreciation
Fund................... 67 104 144 227 16 49 85 185 16 49 85 185
Mortgage Securities
Fund................... 66 99 134 206 14 43 74 163 14 43 74 163
Index Fund............... 65 97 131 199 13 41 71 156 13 41 71 156
International
Opportunities Fund..... 69 108 150 240 17 53 91 199 17 53 91 199
Calvert Social Balanced
Portfolio.............. 69 109 152 245 18 54 94 203 18 54 94 203
Dividend & Growth Fund... 68 105 146 231 16 50 87 189 16 50 87 189
</TABLE>

The purpose of this table is to assist the Contract Owner in understanding
various costs and expenses that a Contract Owner will bear directly or
indirectly. This 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-DCI (0.75% MORTALITY AND EXPENSE RISK CHARGE)

SUB-ACCOUNT 1 YEAR 3 YEARS 5 YEARS 10 YEARS 1 YEAR 3 YEARS 5 YEARS 10 YEARS 1 YEAR 3 YEARS 5 YEARS 10 YEARS
------------------------- ------ ------- ------- -------- ------ ------- ------- -------- ------ ------- ------- --------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Bond Fund................ $ 65 $ 96 $ 130 $ 196 $ 13 $ 40 $ 70 $ 153 $ 13 $ 40 $ 70 $ 153
Stock Fund............... 64 94 126 190 12 38 66 146 12 38 66 146
Money Market Fund........ 64 94 126 188 12 38 66 145 12 38 66 145
Advisers Fund............ 66 100 136 209 14 44 76 167 14 44 76 167
Capital Appreciation
Fund................... 66 100 136 210 14 44 77 168 14 44 77 168
Mortgage Securities
Fund................... 64 94 126 190 12 38 66 146 12 38 66 146
Index Fund............... 64 92 123 183 12 36 63 139 12 36 63 139
International
Opportunities Fund..... 67 104 143 224 16 48 83 182 16 48 83 182
Calvert Social Balanced
Portfolio.............. 68 105 145 229 16 50 86 187 16 50 86 187
Dividend & Growth Fund... 66 101 138 215 15 46 79 172 15 46 79 172
</TABLE>

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 (1.25% MORTALITY AND EXPENSE RISK CHARGE)

SUB-ACCOUNT 1 YEAR 3 YEARS 5 YEARS 10 YEARS 1 YEAR 3 YEARS 5 YEARS 10 YEARS 1 YEAR 3 YEARS 5 YEARS 10 YEARS
------------------------- ------ ------- ------- -------- ------ ------- ------- -------- ------ ------- ------- --------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Bond Fund................ $ 70 $ 111 $ 155 $ 250 $ 18 $ 56 $ 96 $ 209 $ 18 $ 56 $ 96 $ 209
Stock Fund............... 69 109 152 243 17 54 93 202 17 54 93 202
Money Market Fund........ 69 109 151 242 17 54 92 201 17 54 92 201
Advisers Fund............ 71 114 161 262 19 60 102 222 19 60 102 222
Capital Appreciation
Fund................... 69 109 152 243 17 54 93 202 17 54 93 202
Mortgage Securities
Fund................... 68 107 149 237 17 52 90 196 17 52 90 196
Index Fund (1)........... 72 118 168 277 21 64 110 237 21 64 110 237
International
Opportunities Fund..... 71 115 161 263 19 60 103 223 19 60 103 223
Calvert Social Balanced
Portfolio.............. 71 116 163 267 20 61 105 227 20 61 105 227
Dividend & Growth Fund... 73 120 170 281 21 65 112 241 21 65 112 241
</TABLE>

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

(1) For purposes of this EXAMPLE, the Index Fund combined expenses are limited
to 1.25%.

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

6
<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.

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 six years thereof, a maximum
deduction of 5% will be made against the full amount of any such surrender.
During the next two years thereof, a maximum deduction of 4% will be made
against the full amount of any such surrender. During the next two years
thereof, a maximum deduction of 3% will be made against the full amount of any
such surrender. During the next two 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 "Charges Under the Contract
- -- Experience Rating of Contracts," page 24).

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 23.)

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 16).

E. ANNUITY PERIOD UNDER THE CONTRACTS

Contract values held with respect to Participants' Individual Accounts at
the end of the Accumulation Period (and with respect to DC-I only, any
additional Contributions that a Deferred Compensation Plan Contract Owner 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 18.)

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 monthly payments certain. (See "What are
the available Annuity options under the contracts?" commencing on page 20.)
However, Hartford will not assume responsibility in determining or monitoring
minimum distributions beginning at age 70 1/2.

7
<PAGE>
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," page 22.)

I. ASSET CHARGE IN THE SEPARATE ACCOUNT

During both the Accumulation Period and the Annuity Period a charge is made
by Hartford for assuming 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 "Charges
Under the Contract -- Experience Rating of Contracts," page 24). 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 22.)

J. FUND FEES AND CHARGES

The Funds are subject to certain fees, charges and expenses. See the
accompanying prospectuses 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 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 30).

8
<PAGE>
ACCUMULATION UNIT VALUES
(FOR AN ACCUMULATION UNIT OUTSTANDING THROUGHOUT THE PERIOD)

The following information has been derived from the audited financial
statements of the Separate Accounts, which have been audited by Arthur Anderson,
LLP, independent public accountants, as indicated in their reports with respect
thereto, and should be read in conjunction with those statements which are
included in the Statement of Additional Information, which is incorporated by
reference in this Prospectus.

<TABLE>
<CAPTION>
YEAR ENDED DECEMBER 31,
--------------------------------------------
1997 1996 1995 1994 1993
-------- -------- -------- -------- --------
DC-I
<S> <C> <C> <C> <C> <C>
BOND FUND SUB-ACCOUNT
(INCEPTION DATE AUGUST 3, 1982)
Accumulation unit value at beginning of period.............. $ 4.201 $ 4.099 $ 3.499 $ 3.689 $ 3.388
Accumulation unit value at end of period.................... $ 4.641 $ 4.201 $ 4.099 $ 3.499 $ 3.689
Number of accumulation units outstanding at end of period
(in thousands)............................................. 8,821 8,711 8,630 9,090 10,092
STOCK FUND SUB-ACCOUNT
(INCEPTION DATE AUGUST 3, 1982)
Accumulation unit value at beginning of period.............. $ 11.059 $ 8.979 $ 6.773 $ 6.990 $ 6.190
Accumulation unit value at end of period.................... $ 14.413 $ 11.059 $ 8.979 $ 6.773 $ 6.990
Number of accumulation units outstanding at end of period
(in thousands)............................................. 44,558 42,224 39,271 39,551 37,542
MONEY MARKET FUND SUB-ACCOUNT
(INCEPTION DATE JUNE 14, 1982)
Accumulation unit value at beginning of period.............. $ 2.738 $ 2.629 $ 2.515 $ 2.450 $ 2.410
Accumulation unit value at end of period.................... $ 2.861 $ 2.738 $ 2.629 $ 2.515 $ 2.450
Number of accumulation units outstanding at end of period
(in thousands)............................................. 11,208 9,609 7,884 9,548 9,298
ADVISERS FUND SUB-ACCOUNT
(INCEPTION DATE MAY 2, 1983)
Accumulation unit value at beginning of period.............. $ 4.213 $ 3.649 $ 2.876 $ 2.993 $ 2.700
Accumulation unit value at end of period.................... $ 5.204 $ 4.213 $ 3.649 $ 2.876 $ 2.993
Number of accumulation units outstanding at end of period
(in thousands)............................................. 137,947 136,232 128,415 126,437 119,064
CAPITAL APPRECIATION FUND SUB-ACCOUNT
(INCEPTION DATE APRIL 2, 1984)
Accumulation unit value at beginning of period.............. $ 6.552 $ 5.482 $ 4.257 $ 4.204 $ 3.524
Accumulation unit value at end of period.................... $ 7.952 $ 6.552 $ 5.482 $ 4.257 $ 4.204
Number of accumulation units outstanding at end of period
(in thousands)............................................. 62,609 59,279 52,278 46,086 36,598

1992 1991 1990 1989 1988
-------- ------- ------- ------- -------
DC-I
<S> <C> <C> <C> <C> <C>
BOND FUND SUB-ACCOUNT
(INCEPTION DATE AUGUST 3, 1982)
Accumulation unit value at beginning of period.............. $ 3.251 $ 2.827 $ 2.640 $ 2.384 $ 2.244
Accumulation unit value at end of period.................... $ 3.388 $ 3.251 $ 2.827 $ 2.640 $ 2.384
Number of accumulation units outstanding at end of period
(in thousands)............................................. 10,253 10,201 9,871 9,462 9,015
STOCK FUND SUB-ACCOUNT
(INCEPTION DATE AUGUST 3, 1982)
Accumulation unit value at beginning of period.............. $ 5.695 $ 4.628 $ 4.875 $ 3.916 $ 3.332
Accumulation unit value at end of period.................... $ 6.190 $ 5.695 $ 4.628 $ 4.875 $ 3.916
Number of accumulation units outstanding at end of period
(in thousands)............................................. 34,861 32,700 29,962 28,198 25,658
MONEY MARKET FUND SUB-ACCOUNT
(INCEPTION DATE JUNE 14, 1982)
Accumulation unit value at beginning of period.............. $ 2.354 $ 2.248 $ 2.106 $ 1.954 $ 1.842
Accumulation unit value at end of period.................... $ 2.410 $ 2.354 $ 2.248 $ 2.106 $ 1.954
Number of accumulation units outstanding at end of period
(in thousands)............................................. 9,999 10,936 11,181 8,871 8,703
ADVISERS FUND SUB-ACCOUNT
(INCEPTION DATE MAY 2, 1983)
Accumulation unit value at beginning of period.............. $ 2.524 $ 2.123 $ 2.123 $ 1.766 $ 1.566
Accumulation unit value at end of period.................... $ 2.700 $ 2.524 $ 2.123 $ 2.123 $ 1.766
Number of accumulation units outstanding at end of period
(in thousands)............................................. 105,648 93,981 84,223 74,660 62,335
CAPITAL APPRECIATION FUND SUB-ACCOUNT
(INCEPTION DATE APRIL 2, 1984)
Accumulation unit value at beginning of period.............. $ 3.050 $ 2.004 $ 2.278 $ 1.858 $ 1.490
Accumulation unit value at end of period.................... $ 3.524 $ 3.050 $ 2.004 $ 2.278 $ 1.858
Number of accumulation units outstanding at end of period
(in thousands)............................................. 25,900 19,437 15,293 13,508 9,970
</TABLE>

9
<PAGE>

<TABLE>
<CAPTION>
YEAR ENDED DECEMBER 31,
---------------------------------------
1997 1996 1995 1994 1993
------- ------- ------- ------- -------
<S> <C> <C> <C> <C> <C>
MORTGAGE SECURITIES FUND SUB-ACCOUNT
(INCEPTION DATE JANUARY 15, 1985)
Accumulation unit value at beginning of period.............. $ 2.430 $ 2.335 $ 2.034 $ 2.093 $ 1.993
Accumulation unit value at end of period.................... $ 2.628 $ 2.430 $ 2.335 $ 2.034 $ 2.093
Number of accumulation units outstanding at end of period
(in thousands)............................................ 9,204 10,597 11,067 10,782 11,722
INDEX FUND SUB-ACCOUNT
(INCEPTION DATE JUNE 3, 1987)
Accumulation unit value at beginning of period.............. $ 1.520 $ 2.353 $ 1.738 $ 1.735 $ 1.605
Accumulation unit value at end of period.................... $ 1.907 $ 1.520 $ 2.353 $ 1.738 $ 1.735
Number of accumulation units outstanding at end of period
(in thousands)............................................ 67,788 49,989 19,816 15,356 13,489
CALVERT SOCIAL BALANCED PORTFOLIO SUB-ACCOUNT
(INCEPTION DATE JANUARY 25, 1989)
Accumulation unit value at beginning of period.............. $ 2.152 $ 1.929 $ 1.504 $ 1.573 $ 1.475
Accumulation unit value at end of period.................... $ 2.563 $ 2.152 $ 1.929 $ 1.504 $ 1.573
Number of accumulation units outstanding at end of period
(in thousands)............................................ 10,795 10,160 9,009 7,899 7,199
INTERNATIONAL OPPORTUNITIES FUND SUB-ACCOUNT
(INCEPTION DATE JULY 2, 1990)
Accumulation unit value at beginning of period.............. $ 1.488 $ 1.330 $ 1.181 $ 1.220 $ 0.924
Accumulation unit value at end of period.................... $ 1.459 $ 1.488 $ 1.330 $ 1.181 $ 1.220
Number of accumulation units outstanding at end of period
(in thousands)............................................ 38,369 43,558 35,671 38,270 19,894
DIVIDEND & GROWTH FUND SUB-ACCOUNT
(INCEPTION DATE MAY 1, 1995)
Accumulation unit value at beginning of period.............. $ 1.490 $ 1.224 $ 1.000 -- --
Accumulation unit value at end of period.................... $ 1.949 $ 1.490 $ 1.224 -- --
Number of accumulation units outstanding at end of period
(in thousands)............................................ 37,647 20,897 6,317 -- --

1992 1991 1990 1989 1988
------- ------- ------- ------ ------
<S> <C> <C> <C> <C> <C>
MORTGAGE SECURITIES FUND SUB-ACCOUNT
(INCEPTION DATE JANUARY 15, 1985)
Accumulation unit value at beginning of period.............. $ 1.929 $ 1.702 $ 1.571 $1.406 $1.313
Accumulation unit value at end of period.................... $ 1.993 $ 1.929 $ 1.702 $1.571 $1.406
Number of accumulation units outstanding at end of period
(in thousands)............................................ 12,046 11,855 10,291 8,919 9,005
INDEX FUND SUB-ACCOUNT
(INCEPTION DATE JUNE 3, 1987)
Accumulation unit value at beginning of period.............. $ 1.522 $ 1.190 $ 1.255 $0.975 $0.850
Accumulation unit value at end of period.................... $ 1.605 $ 1.522 $ 1.190 $1.255 $0.975
Number of accumulation units outstanding at end of period
(in thousands)............................................ 11,720 8,519 6,350 3,639 1,946
CALVERT SOCIAL BALANCED PORTFOLIO SUB-ACCOUNT
(INCEPTION DATE JANUARY 25, 1989)
Accumulation unit value at beginning of period.............. $ 1.388 $ 1.207 $ 1.173 $1.000 --
Accumulation unit value at end of period.................... $ 1.475 $ 1.388 $ 1.207 $1.173 --
Number of accumulation units outstanding at end of period
(in thousands)............................................ 5,215 3,508 2,036 629 --
INTERNATIONAL OPPORTUNITIES FUND SUB-ACCOUNT
(INCEPTION DATE JULY 2, 1990)
Accumulation unit value at beginning of period.............. $ 0.979 $ 0.877 $ 1.000 -- --
Accumulation unit value at end of period.................... $ 0.924 $ 0.979 $ 0.877 -- --
Number of accumulation units outstanding at end of period
(in thousands)............................................ 8,061 4,663 2,564 -- --
DIVIDEND & GROWTH FUND SUB-ACCOUNT
(INCEPTION DATE MAY 1, 1995)
Accumulation unit value at beginning of period.............. -- -- -- -- --
Accumulation unit value at end of period.................... -- -- -- -- --
Number of accumulation units outstanding at end of period
(in thousands)............................................ -- -- -- -- --
</TABLE>

10
<PAGE>

<TABLE>
<CAPTION>
YEAR ENDED DECEMBER 31,
------------------------------------
1997 1996 1995 1994 1993
------- ------- ------ ------ ------
<S> <C> <C> <C> <C> <C>
DC-II
BOND FUND SUB-ACCOUNT
(INCEPTION DATE AUGUST 25, 1982)
Accumulation unit value at beginning of period.............. $ 4.187 $ 4.095 $3.500 $3.689 $3.389
Accumulation unit value at end of period.................... $ 4.604 $ 4.187 $4.095 $3.500 $3.689
Number of accumulation units outstanding at end of period
(in thousands)............................................ 1,606 1,655 1,368 1,123 992
STOCK FUND SUB-ACCOUNT
(INCEPTION DATE JUNE 29, 1982)
Accumulation unit value at beginning of period.............. $11.017 $ 8.968 $6.771 $6.988 $6.188
Accumulation unit value at end of period.................... $14.295 $11.017 $8.968 $6.771 $6.988
Number of accumulation units outstanding at end of period
(in thousands)............................................ 5,082 4,885 4,413 3,885 3,181
MONEY MARKET FUND SUB-ACCOUNT
(INCEPTION DATE JUNE 29, 1982)
Accumulation unit value at beginning of period.............. $ 2.725 $ 2.624 $2.512 $2.447 $2.407
Accumulation unit value at end of period.................... $ 2.834 $ 2.725 $2.624 $2.512 $2.447
Number of accumulation units outstanding at end of period
(in thousands)............................................ $ 1,473 1,333 989 905 886
ADVISERS FUND SUB-ACCOUNT
(INCEPTION DATE MAY 2, 1983)
Accumulation unit value at beginning of period.............. $ 4.201 $ 3.647 $2.876 $2.993 $2.700
Accumulation unit value at end of period.................... $ 5.168 $ 4.201 $3.647 $2.876 $2.993
Number of accumulation units outstanding at end of period
(in thousands)............................................ 10.299 10,505 9,212 8,279 7,023
CAPITAL APPRECIATION FUND SUB-ACCOUNT
(INCEPTION DATE APRIL 2, 1984)
Accumulation unit value at beginning of period.............. $ 6.533 $ 5.478 $4.257 $4.204 $3.524
Accumulation unit value at end of period.................... $ 7.896 $ 6.533 $5.478 $4.257 $4.204
Number of accumulation units outstanding at end of period
(in thousands)............................................ 11,032 10,979 9,081 6,923 4,940

1992 1991 1990 1989 1988
------ ------ ------ ------ ------
<S> <C> <C> <C> <C> <C>
DC-II
BOND FUND SUB-ACCOUNT
(INCEPTION DATE AUGUST 25, 1982)
Accumulation unit value at beginning of period.............. $3.251 $2.827 $2.641 $2.385 $2.244
Accumulation unit value at end of period.................... $3.389 $3.251 $2.827 $2.641 $2.385
Number of accumulation units outstanding at end of period
(in thousands)............................................ 816 732 724 594 433
STOCK FUND SUB-ACCOUNT
(INCEPTION DATE JUNE 29, 1982)
Accumulation unit value at beginning of period.............. $5.694 $4.627 $4.874 $3.915 $3.331
Accumulation unit value at end of period.................... $6.188 $5.694 $4.627 $4.874 $3.915
Number of accumulation units outstanding at end of period
(in thousands)............................................ 2,517 1,885 1,467 1,156 1,011
MONEY MARKET FUND SUB-ACCOUNT
(INCEPTION DATE JUNE 29, 1982)
Accumulation unit value at beginning of period.............. $2.351 $2.245 $2.103 $1.951 $1.840
Accumulation unit value at end of period.................... $2.407 $2.351 $2.245 $2.103 $1.951
Number of accumulation units outstanding at end of period
(in thousands)............................................ 884 929 881 718 628
ADVISERS FUND SUB-ACCOUNT
(INCEPTION DATE MAY 2, 1983)
Accumulation unit value at beginning of period.............. $2.524 $2.123 $2.123 $1.766 $1.566
Accumulation unit value at end of period.................... $2.700 $2.524 $2.123 $2.123 $1.766
Number of accumulation units outstanding at end of period
(in thousands)............................................ 7,323 6,220 5,565 5,227 4,631
CAPITAL APPRECIATION FUND SUB-ACCOUNT
(INCEPTION DATE APRIL 2, 1984)
Accumulation unit value at beginning of period.............. $3.050 $2.004 $2.278 $1.858 $1.490
Accumulation unit value at end of period.................... $3.524 $3.050 $2.004 $2.278 $1.858
Number of accumulation units outstanding at end of period
(in thousands)............................................ 3,276 2,113 1,455 1,037 787
</TABLE>

11
<PAGE>

<TABLE>
<CAPTION>
YEAR ENDED DECEMBER 31,
----------------------------------
1997 1996 1995 1994 1993
------ ------ ------ ------ ------
<S> <C> <C> <C> <C> <C>
MORTGAGE SECURITIES FUND SUB-ACCOUNT
(INCEPTION DATE JANUARY 15, 1985)
Accumulation unit value at beginning of period.............. $2.421 $2.333 $2.034 $2.093 $1.993
Accumulation unit value at end of period.................... $2.606 $2.421 $2.333 $2.034 $2.093
Number of accumulation units outstanding at end of period
(in thousands)............................................ 1,035 1,141 1,149 994 942
INDEX FUND SUB-ACCOUNT
(INCEPTION DATE JUNE 3, 1985)
Accumulation unit value at beginning of period.............. $2.848 $2.353 $1.738 $1.735 $1.605
Accumulation unit value at end of period.................... $3.745 $2.848 $2.353 $1.738 $1.735
Number of accumulation units outstanding at end of period
(in thousands)............................................ 5,415 4,378 3,153 2,376 1,862
CALVERT SOCIAL BALANCED PORTFOLIO SUB-ACCOUNT
(INCEPTION DATE JANUARY 25, 1989)
Accumulation unit value at beginning of period.............. $2.021 $1.817 $1.417 $1.483 $1.391
Accumulation unit value at end of period.................... $2.396 $2.021 $1.817 $1.417 $1.483
Number of accumulation units outstanding at end of period
(in thousands)............................................ 1,291 1,193 923 693 498
INTERNATIONAL OPPORTUNITIES FUND SUB-ACCOUNT
(INCEPTION DATE JULY 2, 1990)
Accumulation unit value at beginning of period.............. $1.483 $1.329 $1.181 $1.220 $0.924
Accumulation unit value at end of period.................... $1.469 $1.483 $1.329 $1.181 $1.220
Number of accumulation units outstanding at end of period
(in thousands)............................................ 5,864 5,996 4,520 3,640 1,495
DIVIDEND & GROWTH FUND SUB-ACCOUNT
(INCEPTION DATE MAY 1, 1995)
Accumulation unit value at beginning of period.............. $1.490 $1.223 1.000 -- --
Accumulation unit value at end of period.................... $1.933 $1.490 $1.223 -- --
Number of accumulation units outstanding at end of period
(in thousands)............................................ 6,877 3,874 558 -- --

1992 1991 1990 1989 1988
------ ------ ------ ------ ------
<S> <C> <C> <C> <C> <C>
MORTGAGE SECURITIES FUND SUB-ACCOUNT
(INCEPTION DATE JANUARY 15, 1985)
Accumulation unit value at beginning of period.............. $1.929 $1.702 $1.571 $1.406 $1.313
Accumulation unit value at end of period.................... $1.993 $1.929 $1.702 $1.571 $1.406
Number of accumulation units outstanding at end of period
(in thousands)............................................ 802 736 582 845 764
INDEX FUND SUB-ACCOUNT
(INCEPTION DATE JUNE 3, 1985)
Accumulation unit value at beginning of period.............. $1.522 $1.190 $1.255 $0.975 $0.850
Accumulation unit value at end of period.................... $1.605 $1.522 $1.190 $1.255 $0.975
Number of accumulation units outstanding at end of period
(in thousands)............................................ 1,437 871 595 275 116
CALVERT SOCIAL BALANCED PORTFOLIO SUB-ACCOUNT
(INCEPTION DATE JANUARY 25, 1989)
Accumulation unit value at beginning of period.............. $1.308 $1.138 $1.106 $1.000 --
Accumulation unit value at end of period.................... $1.391 $1.308 $1.138 $1.106 --
Number of accumulation units outstanding at end of period
(in thousands)............................................ 317 187 94 18 --
INTERNATIONAL OPPORTUNITIES FUND SUB-ACCOUNT
(INCEPTION DATE JULY 2, 1990)
Accumulation unit value at beginning of period.............. $0.979 $0.877 $1.000 -- --
Accumulation unit value at end of period.................... $0.924 $0.979 $0.877 -- --
Number of accumulation units outstanding at end of period
(in thousands)............................................ 553 220 52 -- --
DIVIDEND & GROWTH FUND SUB-ACCOUNT
(INCEPTION DATE MAY 1, 1995)
Accumulation unit value at beginning of period.............. -- -- -- -- --
Accumulation unit value at end of period.................... -- -- -- -- --
Number of accumulation units outstanding at end of period
(in thousands)............................................ -- -- -- -- --
</TABLE>

12
<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 Social Balanced Portfolio, 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 net of all Fund level
management fees and charges and the mortality and expense risk charge.

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 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 mortality and expense risk charge.

Total return at the Separate Account level includes all contract charges:
contingent deferred sales charges and mortality and expense risk charges and
therefore is 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.

13
<PAGE>
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 supported by Separate
Accounts DC Variable Account I and DC Variable Accounts II. The contracts may
contain additional separate accounts and a General Account option which are not
described in this Prospectus. Please read the Glossary of Special Terms on pages
3 and 4 prior to reading this Prospectus to familiarize yourself with the terms
being used.

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
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," page 27.) DC-I and DC-II
have been organized as unit investment trust types of investment companies and
have been registered as such with the Commission under the Investment Company
Act of 1940, as amended. The Separate Accounts meet the definition of "separate
account" under federal securities law. The assets of DC-I and DC-II were
transferred from Hartford Variable Annuity Life Insurance Company Separate
Account DC-I and DC-II, respectively, on December 31, 1987.

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

14
<PAGE>
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.

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 PROSPECTUSES.

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, and to make
existing Sub-Account options unavailable under the contracts in the future.

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 in each Sub-Account to be credited to a
Participant's Individual Account will be determined by dividing the portion of
the Contribution being credited to each Sub-Account by the value of an
Accumulation Unit in that Sub-Account on the applicable Valuation Day.

Initial Contributions are priced for crediting to a Participant's Individual
Account within two business days after receipt of a properly completed
application and the initial Contribution by Hartford at its Administrative
Office. If an application or any other necessary information (collectively,
"application") is incomplete when received, the initial Contribution will be
credited to the Participant's Individual Account not later than two business
days after the application is made complete. However, if an incomplete
application is not made complete within five business days of its initial
receipt, the Contribution will be immediately returned unless you have been
informed of the delay and request that the Contribution not be returned.

Subsequent Contributions properly designated for a Participant's Individual
Account are priced for crediting to such Participant's Individual Account on the
Valuation Day that the Contribution is received by Hartford at its
Administrative Office, or other designated location.

15
<PAGE>
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.

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 Administrative Office. 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.

MAY I SYSTEMATICALLY TRANSFER ASSETS TO THE SUB-ACCOUNTS?

If, during the Accumulation Period, the portion of your contract values held
under the General Account option is at least $5,000, or the value of your
Accumulation Units held under the Money Market Fund Sub-Account is at least
$5,000, you may choose to have a specified dollar amount transferred from either
the General Account option or the Money Market Fund Sub-Account, whichever meets
the applicable minimum value, to other Sub-Accounts of the Separate Account at
monthly, quarterly, semi-annual or annual intervals. This is known as Dollar
Cost Averaging. The main objective of a Dollar Cost Averaging program is to
minimize the impact of short term price fluctuations. Since the same dollar
amount is transferred to other Sub-Accounts at set intervals, more units are
purchased in a Sub-Account if the value per unit is low and less units are
purchased if the value per unit is high. Therefore, a lower average cost per
unit may be achieved over the long

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<PAGE>

term. A Dollar Cost Averaging program allows investors to take advantage of
market fluctuations. However, it is important to understand that Dollar Cost
Averaging does not assure a profit or protect against a loss in declining
markets.

The minimum amount that may be transferred to any one Sub-Account at a
transfer interval is $100. The transfer date will be the monthly, quarterly,
semi-annual or annual anniversary, as applicable, of your first transfer under
your initial Dollar Cost Averaging election. The first transfer will commence
within five (5) business days after Hartford receives your initial election
either on an appropriate election form in good order or by telephone subject to
the telephone transfer procedures detailed above. The dollar amount will be
allocated to the Sub-Accounts that you specify, in the proportions that you
specify on the appropriate election form provided by Hartford or over our
recorded telephone line. You may specify a maximum of five (5) Sub-Accounts. If,
on any transfer date, your General Account value or the value of your
Accumulation Units under the Money Market Fund Sub-Account, as applicable, is
less than the amount you have elected to have transferred, your Dollar Cost
Averaging program will end. You may cancel your Dollar Cost Averaging election
by notice to Hartford in writing or by calling 1-800-528-9009 and giving notice
to a Hartford representative on our recorded telephone line.

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 Participant's Individual
Account be redeemed or surrendered?" commencing on page 18). 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 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

17
<PAGE>
Period then ending. You should refer to the prospectuses for 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 for 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 20) 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?"
commencing on page 20).

HOW CAN A PARTICIPANT'S INDIVIDUAL ACCOUNT 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 under the
selected Annuity option under the contract. (See "What are the available Annuity
options under the contracts?" commencing on page 20.) 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 20.)

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 22.) The amount received will be the net termination
value next computed after receipt by Hartford at its Administrative Office 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-

18
<PAGE>

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?" commencing on page 22). If the
contingent deferred sales charges have been experience rated (see "How are the
charges under these contracts made?" commencing on page 22), 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.

WHAT ARE ANNUITY RIGHTS?

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 Administrative Office. 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 "Can a contract be modified?" commencing on page
22), 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
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.

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<PAGE>
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 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.

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, 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

number of Annuity Units represented by number of monthly
(b) = each 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.

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<PAGE>
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?" commencing on page 22.)

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

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
faor 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 17) 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 (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 no later than 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.

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<PAGE>
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 DIVIDED BY 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 of 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
the 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.

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 six years thereof, a maximum
deduction of 5% will be made against the full amount of any such surrender.
During the next two years thereof, a maximum deduction of 4% will be made
against the full amount of any such surrender. During the next two years
thereof, a maximum deduction of 3% will be made against the full amount of any
such surrender. During the next two 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 "Charges Under the Contract
- -- Experience Rating of Contracts," page 24).

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

22
<PAGE>
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 an Eligible
Surrender. An Eligible Surrender is a withdrawal, including a withdrawal applied
under one of the available Annuity Options, where such withdrawal is (1) made on
account of a Qualifying Event and (2) payable directly to the Participant, or,
if applicable, to the Participant's beneficiary. For these purposes, a
Qualifying Event is: (i) the death of the Participant, (ii) financial hardship,
as defined in the Plan, (iii) the Participant's separation from service, or (iv)
the Participant's retirement. An amount withdrawn for transfer to the Plan
funding vehicle of another investment provider for the Plan shall not be
considered payable directly to the Participant and shall not constitute an
Eligible Surrender. The contingent deferred sales charges shall not apply to a
transfer of Contract values from this Contract to another group annuity contract
issued by Hartford or an affiliate of Hartford. This waiver may not be available
in all States.

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.

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.

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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 "Charges Under the Contract
- -- 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

Hartford may apply experience credits under a Contract based on investment,
administrative, mortality or other factors, including, but not limited to (1)
the total number of Participants, (2) the sum of all Participants' Individual
Account values, (3) the allocation of Contract values between the General
Account and the Separate Accounts under the Contract, (4) present or anticipated
levels of Contributions, distributions, transfers, administrative expenses or
commissions, and (5) whether Hartford is the exclusive annuity Contract
provider. Experience credits may be applied, either prospectively or
retrospectively, as a reduction in the deduction for mortality, expense risk and
administrative undertakings, a reduction in the term or amount of any applicable
contingent deferred sales charges, an increase in the rate of interest credited
under the Contract, a payment to be allocated as directed by the Contract Owner,
or any combination of the foregoing. Hartford may apply and allocate experience
credits in such manner as Hartford deems appropriate. Any such credit will not
be unfairly discriminatory against any person, including the affected Contract
Owners or Participants. Experience credits have been given in certain cases.
Participants in contracts receiving experience credits will receive notification
regarding such credits. Experience credits may be discontinued at Hartford's
sole discretion in the event of a change in applicable factors.

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 prospectuses for the
Funds.

ARE THERE ANY OTHER DEDUCTIONS?

Currently there is no transfer charge.

24
<PAGE>
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 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 ultimately controlled by The Hartford Financial
Services Group, Inc., one of the largest financial service providers in the
United States.

HARTFORD RATINGS

<TABLE>
<CAPTION>
EFFECTIVE
RATING AGENCY DATE OF RATING RATING BASIS OF RATING
- ---------------------------------- -------------- --------- ----------------------------------------------------------
<S> <C> <C> <C>
A.M. Best and Company, Inc. 9/9/97 A+ Financial soundness and operating performance.
Standard & Poor's 1/23/98 AA Claims paying ability
Duff & Phelps 1/23/98 AA+ Claims paying ability
</TABLE>

WHAT ARE THE FUNDS?

The assets of each Sub-Account of the Separate Account are invested
exclusively in one of the Funds. The investment objectives of each of the Funds
are summarized below. There is no guarantee that any Fund will achieve its
stated objectives.

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

THESE FUNDS MAY NOT BE AVAILABLE IN ALL STATES.

HARTFORD FUNDS

HARTFORD ADVISERS FUND

Seeks maximum long-term total rate of return by investing in common stocks
and other equity securities, bonds and other debt securities, and money market
instruments.

HARTFORD BOND FUND

Seeks 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 Investor Services, Inc. or "BB" by Standard &
Poor's) or, if unrated, are determined to be of comparable quality by the Fund's
investment adviser. Securities rated below investment grade are commonly
referred to as "high yield-high risk securities" or "junk bonds." For more
information concerning the risks associated with investing in such securities,
please refer to the section in the accompanying prospectus for the Hartford
Funds entitled "Hartford Bond Fund, Inc. -- Investment Policies."

HARTFORD CAPITAL APPRECIATION FUND

Seeks growth of capital by investing in equity securities selected solely on
the basis of potential for capital appreciation.

HARTFORD DIVIDEND AND GROWTH FUND

Seeks a high level of current income consistent with growth of capital and
reasonable investment risk.

25
<PAGE>

HARTFORD INDEX FUND

Seeks 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

Seeks growth of capital by investment primarily in equity securities issued
by non-U.S. companies.

HARTFORD MORTGAGE SECURITIES FUND

Seeks 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.

HARTFORD STOCK FUND

Seeks long-term growth of capital by investing primarily in equity
securities.

HARTFORD MONEY MARKET FUND

Seeks maximum current income consistent with liquidity and preservation of
capital.

* "STANDARD & POOR'S-REGISTERED TRADEMARK-", "S&P-REGISTERED TRADEMARK-", "S&P
500", "STANDARD & POOR'S 500", AND "500-REGISTERED TRADEMARK-" 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 AND
STANDARD & POOR'S MAKES NO REPRESENTATION REGARDING THE ADVISABILITY OF
INVESTING IN THE INDEX FUND.

CALVERT FUND

CALVERT SOCIAL BALANCED PORTFOLIO

Seeks to achieve a total return above the rate of inflation through an
actively managed, nondiversified portfolio of common and preferred stocks,
bonds, and money market instruments which offer income and capital growth
opportunities and which satisfy the social criteria established for the
Portfolio.

INVESTMENT ADVISERS

The Hartford Funds are sponsored by Hartford and are incorporated under the
laws of the State of Maryland. HL Investment Advisors, Inc. ("HL Advisors")
serves as the investment adviser to each of the Hartford Funds.

Wellington Management Company, LLP ("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 Advisors has entered an investment services agreement with
The 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 Fund, and Hartford Money Market Fund.

Calvert Asset Management Company serves as investment adviser and manages
the fixed-income portion of the Calvert Social Balanced Portfolio. The
sub-advisor to the Portfolio is NCM Capital Management Group, Inc. ("NCM"). NCM
manages the equity portion of the Portfolio.

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' prospectuses 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.

26
<PAGE>

Shares of Calvert Social Balanced Portfolio, a portfolio of Calvert Variable
Series, Inc. which is unaffiliated with Hartford, are offered to other
unaffiliated separate accounts. Hartford and the Board of Trustees of Calvert
Variable Series, Inc. 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.

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.

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
M of Chapter 1 of the Internal Revenue Code of 1986, as amended (the "Code"). 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 DC-I will be taxed other than as described above, in the event that it is,
the taxation of DC-I and DC-II would be identical.

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
17.) As a result, such investment income and realized capital gains are
automatically applied to increase reserves under the contract.

27
<PAGE>
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 Eligible 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 Eligible 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 an Eligible 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 eligible
employers may have contributions made to an Eligible 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 Eligible
Deferred Compensation Plans maintained by a State or other tax exempt
organization. For these purposes, the term "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. Generally, the limitation is 33 1/3% of
includable compensation (typically 25% of gross compensation) or for 1998,
$8,000 (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 an Eligible 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)
for the exclusive benefit of participants and their beneficiaries. Special
transition rules apply to such governmental Eligible 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
of a trust 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 under Section 457 unless made after the participating employee
attains age 70 1/2, 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.

28
<PAGE>
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 the 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.

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.

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

29
<PAGE>

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

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, unless the non-natural person is holding
as an agent for a natural person. There are additional exceptions to this
general rule of inclusion for (i) certain annuities held by a structured
settlement company, (ii) certain annuities held by an employer with respect to a
terminated pension plan and (iii) certain immediate annuities. A non-natural
person, which is a tax-exempt entity for federal tax purposes, will not be
subject to income tax as a result of this provision.

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?

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.

30
<PAGE>

A Contract Owner 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. 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.

CAN HARTFORD WAIVE ANY RIGHTS UNDER THE CONTRACT?

Hartford may, at its sole discretion, elect not to exercise a right or
reservation specified in this Contract. Such election shall not constitute a
waiver of the right to exercise such right or reservation at any subsequent
time.

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.

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

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

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?

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, Hartford Life Insurance
Company, 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 financial statement schedules included
in this prospectus and elsewhere in the registration statement have been audited
by Arthur Andersen LLP, independent public

31
<PAGE>
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. 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 1-800-528-9009 or your sales
representative or by writing to:

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

32
<PAGE>
TABLE OF CONTENTS
FOR
STATEMENT OF ADDITIONAL INFORMATION

<TABLE>
<CAPTION>
SECTION PAGE
- ------------------------------------------------------------ ----
<S> <C>
DESCRIPTION OF HARTFORD LIFE INSURANCE COMPANY..............
SAFEKEEPING OF ASSETS.......................................
INDEPENDENT PUBLIC ACCOUNTANTS..............................
DISTRIBUTION OF CONTRACTS...................................
CALCULATION OF YIELD AND RETURN.............................
PERFORMANCE COMPARISONS.....................................
FINANCIAL STATEMENTS........................................
</TABLE>

33
<PAGE>

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

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

Hartford Advisers Fund -- shares of Class IA of Hartford Advisers HLS
Sub-Account Fund, Inc. ("Hartford Advisers Fund")
Hartford Bond Fund -- shares of Class IA of Hartford Bond HLS Fund,
Sub-Account Inc. ("Hartford Bond Fund")
Calvert Social Balanced -- shares of Calvert Social Balanced Portfolio
Portfolio Series of Calvert Variable Series, Inc.
Sub-Account ("Calvert Social Balanced Portfolio")
Hartford Capital -- shares of Class IA of Hartford Capital
Appreciation Fund Appreciation HLS Fund, Inc. ("Hartford Capital
Sub-Account Appreciation Fund")
Hartford Dividend and -- shares of Class IA of Hartford Dividend and
Growth Fund Growth HLS Fund, Inc. ("Hartford Dividend and
Sub-Account Growth Fund")
Hartford Index Fund -- shares of Class IA of Hartford Index HLS Fund,
Sub-Account Inc. ("Hartford Index Fund")
Hartford International -- shares of Class IA of Hartford International
Opportunities Fund Opportunities HLS Fund, Inc. ("Hartford
Sub-Account International Opportunities Fund")
Hartford Money Market -- shares of Class IA of Hartford Money Market HLS
Fund Fund, Inc. ("Hartford Money Market Fund")
Sub-Account
Hartford Mortgage -- shares of Class IA of Hartford Mortgage
Securities Fund Securities HLS Fund, Inc. ("Hartford Mortgage
Sub-Account Securities Fund")
Hartford Stock Fund -- shares of Class IA of Hartford Stock HLS Fund,
Sub-Account Inc. ("Hartford Stock Fund")

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: AMS Service
Center Administration, P.O. Box 2999, Hartford, CT 06104-2999. The Securities
and Exchange Commission also maintains a Web site ("http://www.sec.gov") that
contains this Statement of Additional Information, material incorporated by
reference, and other information regarding registrants that file
electronically with the Securities and Exchange Commission. The Table of
Contents for the Statement of Additional Information may be found on page 30
of this Prospectus. The Statement of Additional Information is incorporated by
reference to this Prospectus.

Prospectus Dated: May 1, 1998
Statement of Additional Information Dated: May 1, 1998

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TABLE OF CONTENTS

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<S> <C>
GLOSSARY OF SPECIAL TERMS............................................... 3
FEE TABLE............................................................... 5
SUMMARY................................................................. 7
ACCUMULATION UNIT VALUES................................................ 9
PERFORMANCE RELATED INFORMATION......................................... 13
INTRODUCTION............................................................ 14
THE CONTRACTS AND THE SEPARATE ACCOUNTS................................. 14
What are the contracts?............................................... 14
Who can buy these contracts?.......................................... 14
What are the Separate Accounts and how do they operate?............... 14
OPERATION OF THE CONTRACT............................................... 15
How are Contributions credited?....................................... 15
May I make changes in the amounts of my Contribution?................. 16
May I transfer assets between Sub-Accounts?........................... 16
May I systematically transfer assets to the Sub-Accounts?............. 16
What happens if the Contract Owner fails to make Contributions?....... 17
May I assign or transfer the contract?................................ 17
How do I know what my account is worth?............................... 17
How is the Accumulation Unit value determined?........................ 17
How are the underlying Fund shares valued?............................ 18
PAYMENT OF BENEFITS..................................................... 18
What would my Beneficiary receive as death proceeds?.................. 18
How can a contract be redeemed or surrendered?........................ 18
Can payment of the redemption or surrender value ever be postponed
beyond the seven day period?......................................... 19
May I surrender once Annuity payments have started?................... 19
Are there differences in the contract related to the type of plan in
which the Participant is enrolled?................................... 19
Can a contract be suspended by a Contract Owner?...................... 19
How do I elect an Annuity Commencement Date and Form of Annuity?...... 19
What is the minimum amount that I may select for an Annuity
payment?............................................................. 20
How are Contributions made to establish my Annuity account?........... 20
What are the available Annuity options under the contracts?........... 20
How are Variable Annuity payments determined?......................... 21
Can a contract be modified?........................................... 22
CHARGES UNDER THE CONTRACT.............................................. 22
How are the charges under these contracts made?....................... 22
Is there ever a time when the sales charges do not apply?............. 23
What do the sales charges cover?...................................... 23
What is the mortality, expense risk and administrative charge?........ 23
Experience Rating of Contracts........................................ 24
How much are the deductions for Premium Taxes on these contracts?..... 24
What charges are made by the Funds?................................... 24
Are there any other deductions?....................................... 24
HARTFORD LIFE INSURANCE COMPANY AND THE FUNDS........................... 25
What is Hartford?..................................................... 25
What are the Funds?................................................... 25
FEDERAL TAX CONSIDERATIONS.............................................. 27
What are some of the federal tax consequences which affect these
contracts?........................................................... 27
MISCELLANEOUS........................................................... 30
What are my voting rights?............................................ 30
Will other contracts be participating in the Separate Accounts?....... 31
How are the contracts sold?........................................... 31
Who is the custodian of the Separate Accounts' assets?................ 31
Are there any material legal proceedings affecting the Separate
Accounts?............................................................ 31
Are you relying on any experts as to any portion of this
Prospectus?.......................................................... 31
How may I get additional information?................................. 32
TABLE OF CONTENTS FOR STATEMENT OF ADDITIONAL INFORMATION............... 33
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