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>

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

The variable annuity contracts (hereinafter the "contract" or "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.

On contracts 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. The contracts issued in connection with Deferred
Compensation Plans may contain additional separate accounts not described in
this Prospectus.

On contracts issued in conjunction with a Qualified Plan of an employer, all
variable account Contributions during both the Accumulation Period and Annuity
Period are held in DC-II.

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 contracts are used in conjunction with Deferred Compensation Plans of
tax-exempt and governmental employers as well as with Qualified Plans
established by Employers generally (tax-exempt and non-tax-exempt).

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

<TABLE>
<S> <C>
Advisers Fund Sub-Account _ shares of Class IA of Hartford Advisers HLS Fund, Inc. ("Advisers Fund")
Bond Fund Sub-Account _ shares of Class IA of Hartford Bond HLS Fund, Inc., ("Hartford Bond Fund")
Calvert Social Balanced shares of the Calvert Social Balanced Portfolio Series of Calvert Variable
Portfolio Sub-Account Series, Inc. ("Calvert Social Balanced Portfolio")
Capital Appreciation Fund _ shares of Class IA of Hartford Capital Appreciation HLS Fund, Inc., ("Hartford
Sub-Account Capital Appreciation Fund")
Dividend and Growth Fund _ shares of Class IA of Hartford Dividend and Growth HLS Fund, Inc. ("Hartford
Sub-Account _ Dividend and Growth Fund")
Index Fund Sub-Account _ shares of Class IA of Hartford Index HLS Fund, Inc. ("Hartford Index Fund")
International Opportunities shares of Class IA of Hartford International Opportunities HLS
</TABLE>

<PAGE>

<TABLE>
<S> <C>
Fund Sub-Account _ Fund, Inc. ("Hartford International Opportunities Fund")
Money Market Fund Sub- shares of Class IA of Hartford Money Market HLS Fund, Inc. ("Hartford Money
Acount _ Market Fund")
Mortgage Securities Fund shares of Class IA of Hartford Mortgage Securities HLS Fund, Inc. ("Hartford
Sub-Account _ Mortgage Securities Fund")
Stock Fund Sub-Account _ shares of Class IA of Hartford Stock HLS Fund, Inc. ("Hartford Stock Fund")
</TABLE>

This Prospectus sets forth the information concerning the Separate Accounts
that investors ought to know before investing. This Prospectus should be kept
for future reference. Additional information about the Separate Accounts 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 Table of Contents
for the Statement of Additional Information may be found on page 60 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 CONTAIN 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

Section Page
<S> <C>
GLOSSARY OF SPECIAL TERMS............................................. 4
FEE TABLE............................................................. 6
SUMMARY............................................................... 11
ACCUMULATION UNIT VALUES.............................................. 15
PERFORMANCE RELATED INFORMATION....................................... 24
INTRODUCTION.......................................................... 24
THE CONTRACTS AND THE SEPARATE ACCOUNTS............................... 25
What are the contracts?............................................. 25
Who can buy these contracts?........................................ 26
What are the Separate Accounts and how do they operate?............. 26
OPERATION OF THE CONTRACT............................................. 27
How are Contributions credited?..................................... 27
May I make changes in the amounts of my Contributions?.............. 28
May I transfer assets between Sub-Accounts?......................... 28
May I systematically transfer assets to the Sub-Accounts?........... 29
What happens if the Contract Owner fails to make Contributions?..... 30
May I assign or transfer the contract?.............................. 30
How do I know what my account is worth?............................. 30
How is the Accumulation Unit value determined?...................... 31
How are the underlying Fund shares valued?.......................... 31
PAYMENT OF BENEFITS................................................... 31
What would my Beneficiary receive as death proceeds?................ 31
How can a contract be redeemed or surrendered?...................... 32
Can payment of the redemption or surrender value ever be postponed
beyond the seven day period?...................................... 33
May I surrender once Annuity payments have started?................. 33
What are Annuity Rights............................................. 33
Can a contract be suspended by a Contract Owner?.................... 34
How do I elect an Annuity Commencement Date and Form of Annuity?.... 34
What is the minimum amount that I may select for an Annuity payment? 35
How are Contributions made to establish my Annuity account?......... 35
What are the available Annuity options under the contracts?......... 35
How are Variable Annuity payments determined?....................... 37
Can a contract be modified?......................................... 38
CHARGES UNDER THE CONTRACT............................................ 39
How are the charges under these contracts made?..................... 39
Is there ever a time when the sales charges do not apply?........... 40
What do the sales charges cover?.................................... 40
What is the mortality, expense risk and administrative charge?...... 40
Are there any other administrative charges?......................... 42
</TABLE>

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<PAGE>

<TABLE>
<S> <C>
Experience Rating of Contracts...................................... 42
How much are the deductions for Premium Taxes on these contracts?... 43
What charges are made by the Funds?................................. 43
Are there any other deductions?..................................... 43
HARTFORD LIFE INSURANCE COMPANY AND THE FUNDS......................... 43
What is Hartford?................................................... 43
What are the Funds?................................................. 44
FEDERAL TAX CONSIDERATIONS............................................ 47
What are some of the federal tax consequences which affect these
contracts?........................................................ 47
MISCELLANEOUS......................................................... 54
What are my voting rights?.......................................... 54
Will other contracts be participating in the Separate Accounts?..... 54
Can Hartford waive any rights under the Contract?................... 55
How are the contracts sold?......................................... 55
Who is the custodian of the Separate Accounts' assets?.............. 55
Are there any material legal proceedings affecting the Separate
Accounts?......................................................... 55
Are you relying on any experts as to any portion of this Prospectus? 55
How may I get additional information?............................... 56
APPENDIX ACCUMULATION PERIOD UNDER PRIOR GROUP CONTRACTS.............. 57
TABLE OF CONTENTS FOR STATEMENT OF ADDITIONAL INFORMATION............. 60
</TABLE>

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<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.

ANNUAL MAINTENANCE FEE: An annual $25 charge on a Contract having a Contract
value of less than $50,000, as determined on the most recent Contract
Anniversary or upon full surrender of the Contract. The charge is deducted
proportionately from the investment options in use at the time of such
deduction.

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.

-4-

<PAGE>

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

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.

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.

EMPLOYER: A governmental or tax-exempt Employer maintaining a Deferred
Compensation Plan for its Employees or an Employer establishing a Qualified 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 as described commencing on page 44 of this
Prospectus.

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

HARTFORD: Hartford Life Insurance Company.

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

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

PARTICIPANT'S CONTRACT YEAR: A period of 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 or Qualified Plan of an Employer.

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

QUALIFIED PLAN: A voluntary plan of an Employer which qualifies for special tax
treatment under a particular section of the Internal Revenue Code.

SEPARATE ACCOUNT: The separate 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.

-5-

<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
- --------------------------------------------------------------------------------
Transfer Fee $ 0
- --------------------------------------------------------------------------------
Contingent Deferred Sales Charge (as a percentage of amounts
withdrawn)
- --------------------------------------------------------------------------------
Contracts under which variable account Contributions are held under Separate
Account DC-I during the Accumulation Period:
- --------------------------------------------------------------------------------
First through Sixth Year 5%
- --------------------------------------------------------------------------------
Seventh and Eighth Year 4%
- --------------------------------------------------------------------------------
Ninth and Tenth Year 3%
- --------------------------------------------------------------------------------
Eleventh and Twelfth Year 2%
- --------------------------------------------------------------------------------
Thirteenth Year 0%
- --------------------------------------------------------------------------------
Contracts under which variable account Contributions are held under Separate
Account DC-II during the Accumulation Period:
- --------------------------------------------------------------------------------
First through Eighth Year 5%
- --------------------------------------------------------------------------------
Ninth through Fifteenth Year 3%
- --------------------------------------------------------------------------------
Sixteenth Year 0%
- --------------------------------------------------------------------------------
Annual Contract Fee (DC-I) None
- --------------------------------------------------------------------------------
Annual Contract Fee (DC-II) $25.00
- --------------------------------------------------------------------------------
Annual Expenses-Separate Account (as a percentage of average
account value)
Mortality and Expense Risk (DC-I) (1) 0.900%
- --------------------------------------------------------------------------------
Mortality and Expense Risk (DC-II) 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 Transfer Fee, Contingent Deferred Sales Charge, and Annual Contract
Fee and Mortality and Expense Risk charge may be reduced or eliminated. See
"Experience Rating of Contracts," page 42.

-6-

<PAGE>

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

<TABLE>
<CAPTION>
- ---------------------------------------------------------------- ------------------ ------------------ -------------------
TOTAL FUND
OTHER EXPENSES OPERATING EXPENSES
MANAGEMENT FEES (AFTER ANY (AFTER ANY FEE WAIVERS
(AFTER ANY FEE EXPENSE AND EXPENSE
WAIVERS) 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%.

-7-

<PAGE>

Example DC-I (0.900% Mortality and Expense Risk Charge)

<TABLE>
<CAPTION>
- ---------------------- ------------------------------- ------------------------------- -------------------------------
If you surrender your If you annuitize your If you do not surrender your
Contract at the end of the Contract at the end of the Contract, you would pay the
applicable time period, you applicable time period, you following expenses on a
would pay the following would pay the following $1,000 investment, assuming a
expenses on a $1,000 expenses on a $1,000 5% annual return on assets:
investment, assuming a 5% investment, assuming a 5%
annual return on assets: annual return on the assets:
- ---------------------- ------- ------- ------- ------- ------- ------- ------- ------- ------ ------- ------- -------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1 3 5 10 1 3 5 10 1 3 5 10
Sub-Account yr. yrs. yrs. yrs. yr. yrs. yrs. yrs. yr. yrs. yrs. yrs.
- ---------------------- ------- ------- ------- ------- ------- ------- ------- ------- ------ ------- ------- -------
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 67 104 144 227 16 49 85 185 16 49 85 185
Fund
- ---------------------- ------- ------- ------- ------- ------- ------- ------- ------- ------ ------- ------- -------
Mortgage Securities 66 99 134 206 14 43 74 163 14 43 74 163
Fund
- ---------------------- ------- ------- ------- ------- ------- ------- ------- ------- ------ ------- ------- -------
Index Fund 65 97 131 199 13 41 71 156 13 41 71 156
- ---------------------- ------- ------- ------- ------- ------- ------- ------- ------- ------ ------- ------- -------
International 69 108 150 240 17 53 91 199 17 53 91 199
Opportunities Fund
- ---------------------- ------- ------- ------- ------- ------- ------- ------- ------- ------ ------- ------- -------
Calvert Social 69 109 152 245 18 54 94 203 18 54 94 203
Balanced Portfolio
- ---------------------- ------- ------- ------- ------- ------- ------- ------- ------- ------ ------- ------- -------
Dividend & Growth 68 105 146 231 16 50 87 189 16 50 87 189
Fund
- ---------------------- ------- ------- ------- ------- ------- ------- ------- ------- ------ ------- ------- -------
</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.

-8-

<PAGE>

Example DC-I (0.75% Mortality and Expense Risk Charge)

<TABLE>
<CAPTION>
- ---------------------- ------------------------------- ------------------------------- -------------------------------
If you surrender your If you annuitize your If you do not surrender your
Contract at the end of the Contract at the end of the Contract, you would pay the
applicable time period, you applicable time period, you following expenses on a
would pay the following would pay the following $1,000 investment, assuming a
expenses on a $1,000 expenses on a $1,000 5% annual return on assets:
investment, assuming a 5% investment, assuming a 5%
annual return on assets: annual return on the assets:
- ---------------------- ------------------------------- ------------------------------- ------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1 3 5 10 1 3 5 10 1 3 5 10
Sub-Account yr. yrs. yrs. yrs. yr. yrs. yrs. yrs. yr. yrs. yrs. yrs.
- ---------------------- ------- ------- ------- ------- ------- ------- ------- ------- ------ ------- ------- -------
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.

-9-

<PAGE>

Example DC-II (1.25% Mortality and Expense Risk Charge)

<TABLE>
<CAPTION>
- ---------------------- ------------------------------- ------------------------------- -------------------------------
If you surrender your If you annuitize your If you do not surrender your
Contract at the end of the Contract at the end of the Contract, you would pay the
applicable time period, you applicable time period, you following expenses on a
would pay the following would pay the following $1,000 investment, assuming a
expenses on a $1,000 expenses on a $1,000 5% annual return on assets:
investment, assuming a 5% investment, assuming a 5%
annual return on assets: annual return on the assets:
- ---------------------- ------------------------------- ------------------------------- -------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1 3 5 10 1 3 5 10 1 3 5 10
Sub-Account yr. yrs. yrs. yrs. yr. yrs. yrs. yrs. yr. yrs. yrs. yrs.
- ---------------------- ------- ------- ------- ------- ------- ------- ------- ------- ------ ------- ------- -------
Bond Fund $70 $113 $158 $257 $18 $57 $99 $215 $19 $58 $100 $216
- ---------------------- ------- ------- ------- ------- ------- ------- ------- ------- ------ ------- ------- -------
Stock Fund 70 111 155 251 17 55 96 209 18 56 97 210
- ---------------------- ------- ------- ------- ------- ------- ------- ------- ------- ------ ------- ------- -------
Money Market Fund 70 111 155 250 17 55 95 208 18 56 96 209
- ---------------------- ------- ------- ------- ------- ------- ------- ------- ------- ------ ------- ------- -------
Advisers Fund 71 116 164 269 19 61 105 228 20 62 106 229
- ---------------------- ------- ------- ------- ------- ------- ------- ------- ------- ------ ------- ------- -------
Capital Appreciation
Fund 72 117 165 270 19 61 106 229 20 62 107 230
- ---------------------- ------- ------- ------- ------- ------- ------- ------- ------- ------ ------- ------- -------
Mortgage Securities
Fund 70 111 155 251 17 55 96 209 18 56 97 210
- ---------------------- ------- ------- ------- ------- ------- ------- ------- ------- ------ ------- ------- -------
Index Fund (1) 69 109 152 245 17 54 93 202 18 54 94 203
- ---------------------- ------- ------- ------- ------- ------- ------- ------- ------- ------ ------- ------- -------
International
Opportunities Fund 73 121 171 284 21 65 113 243 21 66 113 244
- ---------------------- ------- ------- ------- ------- ------- ------- ------- ------- ------ ------- ------- -------
Calvert Social
Balanced Portfolio 73 122 173 288 21 67 115 247 22 67 115 248
- ---------------------- ------- ------- ------- ------- ------- ------- ------- ------- ------ ------- ------- -------
Dividend & Growth
Fund 72 118 167 275 20 63 108 234 21 63 109 234
- ---------------------- ------- ------- ------- ------- ------- ------- ------- ------- ------ ------- ------- -------
</TABLE>

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

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.

-10-

<PAGE>

SUMMARY

A. CONTRACTS OFFERED

Group contracts issued in conjunction with a Deferred Compensation Plan or a
Qualified Plan of an employer are offered.

The Qualified Plan contracts available with respect to DC-II are limited to
plans established and sponsored by Employers for their Employees. Qualified
Plans provide a way for an Employer to establish a funded retirement plan for
its Employees. The contract is normally issued to the Employer or to the
trustee or custodian of the Employer's Plan.

Contract Owners who have purchased a prior series of contracts may continue
to make Contributions to such contracts subject to the terms and provisions
of their contracts. New Participants may be added to existing contracts of
the prior series but no new contracts of that series will be issued. Prior
Contract Owners are referred to the Appendix (commencing on page 57) for a
description of the sales charges and other expenses applicable to earlier
series of contracts.

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 the
Separate Account.

C. CONTINGENT DEFERRED SALES CHARGES

No deduction for sales expense is made at the time of allocation of
Contributions to the contracts. For Contracts under which variable account
Contributions are held under Separate Account DC-I during the Accumulation
Period, a deduction for contingent deferred sales charges is made if there is
any surrender of contract values during the first 12 Participant's 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. For Contracts under which variable account
Contributions are held under Separate Account DC-II during the Accumulation
Period, a deduction for contingent deferred sales charges is made if there is
any surrender of contract values during the first 15 Participant Contract
Years. During the first 8 years thereof, a maximum deduction of 5% will be
made against the full amount of any such surrender. During the next 7 years
thereof, a maximum deduction of 3% will be made against the full amount of
any such Contributions to a Participant's Individual Account. The

-11-

<PAGE>

amount or term of the contingent deferred sales charge may be reduced (see
"Charges Under the Contract - Experience Rating of Contracts," page 42).

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 40.)

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 28).

E. ANNUITY PERIOD UNDER THE CONTRACTS

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

Additional Contributions made under the contracts (on Deferred Compensation
Plans written with respect to DC-I only) at the beginning of the Annuity
Period, to effect increased Fixed and/or Variable Annuity payments, will be
subject to a sales charge deduction in the maximum amount of 3.50% of such
Contribution. (See "How are Contributions made to establish my Annuity
account?" commencing on page 35.)

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 31).

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<PAGE>

G. ANNUITY OPTIONS

The Annuity Commencement Date will not be deferred beyond the Participant's
75th birthday or such earlier date as may be required by applicable law
and/or regulation. If a Contract Owner does not elect otherwise, Hartford
reserves the right to begin Annuity payments automatically at age 65 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 35.) However, Hartford will not assume responsibility in determining or
monitoring minimum distributions beginning at age 70 1/2.

H. DEDUCTIONS FOR PREMIUM TAXES

Deductions will be made during the Accumulation Period and Annuity Period, as
appropriate, for the payment of any Premium Taxes that may be levied against
the contract by a state or other governmental entity. The range is generally
between 0% and 3.50%. (See "Charges Under the Contract," page 39.)

I. ASSET CHARGE IN THE SEPARATE ACCOUNT

During both the Accumulation Period and the Annuity Period a charge is made
by Hartford for providing the mortality, expense, and administrative
undertakings under the contracts. With respect to contract values held in
DC-I, such charge is an annual rate of .90% (.50% for mortality, .15% for
expense and .25% for administrative undertakings) of the average daily net
assets of DC-I; however, where contract values exceed fifty million dollars
($50,000,000.00), such charge is an annual rate of .75% (.50% for mortality,
.10% for expense and .15% for administrative undertakings) of the average
daily net assets of DC-I. With respect to contract values held in DC-II, such
charge is an annual rate of 1.25% (.85% for mortality, .15% for expense and
.25% for administrative undertakings) of the average daily net assets of
DC-II. The rate charged for the mortality, expense and administrative
undertakings under the contracts may be reduced (see "Charges Under the
Contract -- Experience Rating of Contracts," page 42). 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 any such increase. (See "Charges Under the Contract," page
42.)

J. ANNUAL MAINTENANCE FEE

An Annual Maintenance Fee may be charged against the value of each
Participant's Individual Account under a contract at the end of a
Participant's Contract Year. Currently, there is an Annual Maintenance Fee of
$25.00 assessed against any Participant's Individual Account value in
Separate Account DC-II. Hartford reserves the right to reduce or waive
the Annual Maintenance Fee under certain conditions.

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<PAGE>

K. FUND FEES AND CHARGES

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

L. 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.

M. PAYMENT ALLOCATION TO DC-I AND DC-II

The contracts permit the allocation of Contributions, in multiples of ten
percent of each Contribution among the several Sub-Accounts of DC-I and
DC-II. 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.

N. VOTING RIGHTS OF CONTRACT OWNERS

Contract Owners and/or vested Participants will have the right to vote on
matters affecting the underlying Fund to the extent that proxies are
solicited by such Fund. If a Contract Owner does not vote, Hartford shall
vote such interest in the same proportion as shares of the Fund for which
instructions have been received by Hartford. (See "What are my voting
rights?" commencing on page 54.)

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<PAGE>

ACCUMULATION UNIT VALUES

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
Andersen, LLP, independent public accountants, as indicated in their
reports 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 1992 1991 1990 1989 1988
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
DC-I
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 $3.251 $2.827 $2.640 $2.384 $2.244
Accumulation unit
value at end of
period.......... $4.641 $4.201 $4.099 $3.499 $3.689 $3.388 $3.251 $2.827 $2.640 $2.384
Number
accumulation
units
outstanding at
end of period
(in thousands).. 8.821 8,711 8,630 9,090 10,092 10,253 10,201 9,871 9,462 9,015
DC-I
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 $5.695 $4.628 $4.875 $3.916 $3.332
Accumulation unit
value at end of
period.......... $14.413 $11.059 $8.979 $6.773 $6.990 $6.190 $5.695 $4.628 $4.875 $3.916
Number
accumulation
units
outstanding at
end of period
(in thousands).. 44,558 42,224 39,271 39,551 37,542 34,861 32,700 29,962 28,198 25,658
DC-I
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 $2.354 $2.248 $2.106 $1.954 $1.842
Accumulation unit
value at end of
period.......... $2.861 $2.738 $2.629 $2.515 $2.450 $2.410 $2.354 $2.248 $2.106 $1.954
Number
accumulation
units
outstanding at
end of period
(in thousands).. 11,208 9,609 7,884 9,548 9,298 9,999 10,936 11,181 8,871 8,703
DC-I
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 $2.524 $2.123 $2.123 $1.766 $1.566
Accumulation unit
value at end of
period.......... $5.204 $4.213 $3.649 $2.876 $2.993 $2.700 $2.524 $2.123 $2.123 $1.766
Number
accumulation
units
outstanding at
end of period
(in thousands).. 137,947 136,232 128,415 126,437 119,064 105,648 93,981 84,223 74,660 62,335
</TABLE>

-15-
<PAGE>

<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
DC-I
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 $3.050 $2.004 $2.278 $1.858 $1.490
Accumulation unit
value at end of
period.......... $7.952 $6.552 $5.482 $4.257 $4.204 $3.524 $3.050 $2.004 $2.278 $1.858
Number
accumulation
units
outstanding at
end of period
(in thousands).. 62,609 59,279 52,278 46,086 36,598 25,900 19,437 15,293 13,508 9,970
DC-I
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 $1.929 $1.702 $1.571 $1.406 $1.313
Accumulation unit
value at end of
period.......... $2.628 $2.430 $2.335 $2.034 $2.093 $1.993 $1.929 $1.702 $1.571 $1.406
Number
accumulation
units
outstanding at
end of period
(in thousands).. 9,204 10,597 11,067 10,782 11,722 12,046 11,855 10,291 8,919 9,005
DC-I
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 $1.522 $1.190 $1.255 $0.975 $0.850
Accumulation unit
value at end of
period.......... $1.907 $1.520 $2.353 $1.738 $1.735 $1.605 $1.522 $1.190 $1.255 $0.975
Number
accumulation
units
outstanding at
end of period
(in thousands).. 67,788 49,989 19,816 15,356 13,489 11,720 8,519 6,350 3,639 1,946
DC-I
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 $1.388 $1.207 $1.173 $1.000 _
Accumulation unit
value at end of
period.......... $2.563 $2.152 $1.929 $1.504 $1.573 $1.475 $1.388 $1.207 $1.173 _
Number
accumulation
units
outstanding at
end of period
(in thousands).. 10.795 10,160 9,009 7,899 7,199 5,215 3,508 2,036 629 _
</TABLE>

-16-

<PAGE>

<TABLE>
<CAPTION>
Year Ended December 31,
1997 1996 1995 1994 1993 1992 1991 1990 1989 1988
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
DC-I
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 $0.979 $0.877 $1.000 _ _
Accumulation unit value
at end of period......... $1.459 $1.488 $1.330 $1.181 $1.220 $0.924 $0.979 $0.877 _ _
Number accumulation units
outstanding at end of
period (in thousands) ... 38,369 43,558 35,671 38,270 19,894 8,061 4,663 2,564 _ _
DC-I
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 accumulation units
outstanding at end of
period (in thousands) ... 37,647 20,897 6,317 _ _ _ _ _ _ _
DC-II (1.25%)
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 $3.251 $2.827 $2.641 $2.385 $2.244
Accumulation unit value
at end of period......... $4.604 $4.187 $4.095 $3.500 $3.689 $3.389 $3.251 $2.827 $2.641 $2.385
Number accumulation units
outstanding at end of
period (in thousands) ... 1,606 1,655 1,368 1,123 992 816 732 724 594 433
DC-II (1.25%)
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 $5.694 $4.627 $4.874 $3.915 $3.331
Accumulation unit value
at end of period......... $14.295 $11.017 $8.968 $6.771 $6.988 $6.188 $5.694 $4.627 $4.874 $3.915
Number accumulation units
outstanding at end of
period (in thousands) ... 5,082 4,885 4,413 3,885 3,181 2,517 1,885 1,467 1,156 1,011
</TABLE>

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<PAGE>

<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
DC-II (1.25%)
(INCEPTION DATE JUNE 29,
1982)
Money Market Fund
Sub-Account
Accumulation unit value
at beginning of period .. $2.725 $2.624 $2.512 $2.447 $2.407 $2.351 $2.245 $2.103 $1.951 $1.840
Accumulation unit value
at end of period......... $2.834 $2.725 $2.624 $2.512 $2.447 $2.407 $2.351 $2.245 $2.103 $1.951
Number accumulation units
outstanding at end of
period (in thousands) 1,473 1,333 989 905 886 884 929 881 718 628
DC-II (1.25%)
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 $2.524 $2.123 $2.123 $1.766 $1.566
Accumulation unit value
at end of period......... $5.168 $4.201 $3.647 $2.876 $2.993 $2.700 $2.524 $2.123 $2.123 $1.766
Number accumulation units
outstanding at end of
period (in thousands) ... 10,299 10,505 9,212 8,279 7,023 7,323 6,220 5,565 5,227 4,631
DC-II (1.25%)
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 $3.050 $2.004 $2.278 $1.858 $1.490
Accumulation unit value
at end of period......... $7.896 $6.533 $5.478 $4.257 $4.204 $3.524 $3.050 $2.004 $2.278 $1.858
Number accumulation units
outstanding at end of
period (in thousands) ... 11,032 10,979 9,081 6,923 4,940 3,276 2,113 1,455 1,037 787
DC-II (1.25%)
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 $1.929 $1.702 $1.571 $1.406 $1.313
Accumulation unit value
at end of period......... $2.606 $2.421 $2.333 $2.034 $2.093 $1.993 $1.929 $1.702 $1.571 $1.406
Number accumulation units
outstanding at end of
period (in thousands) ... 1,035 1,141 1,149 994 942 802 736 582 845 764
</TABLE>

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<PAGE>

<TABLE>
<CAPTION>
Year Ended December 31,
1997 1996 1995 1994 1993 1992 1991 1990 1989 1988
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
DC-II (1.25%)
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 $1.522 $1.190 $1.255 $0.975 $0.850
Accumulation unit
value at end of
period............. $3.745 $2.848 $2.353 $1.738 $1.735 $1.605 $1.522 $1.190 $1.255 $0.975
Number accumulation
units outstanding
at end of period
(in thousands)..... 5,415 4,378 3,153 2,376 1,862 1,437 871 595 275 116
DC-II (1.25%)
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 $1.308 $1.138 $1.106 $1.000 _
Accumulation unit
value at end of
period............. $2.396 $2.021 $1.817 $1.417 $1.483 $1.391 $1.308 $1.138 $1.106 _
Number accumulation
units outstanding
at end of period
(in thousands)..... 1,291 1,193 923 693 498 317 187 94 18 _
DC-II (1.25%)
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 $0.979 $0.877 $1.000 _ _
Accumulation unit
value at end of
period............. $1.469 $1.483 $1.329 $1.181 $1.220 $0.924 $0.979 $0.877 _ _
Number accumulation
units outstanding
at end of period
(in thousands)..... 5,864 5,996 4,520 3,640 1,495 553 220 52 _ _
</TABLE>

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<PAGE>

<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
DC-II (1.25%)
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 accumulation
units outstanding
at end of period
(in thousands)..... 6,877 3,874 558 _ _ _ _ _ _ _
DC-II (0.150%)
Bond Fund Sub-Account
(INCEPTION DATE MARCH
15, 1982)
Accumulation unit
value at beginning
of period.......... $3.988 $3.858 $3.261 $3.400 $3.089 $2.932 $2.521 $2.329 $2.080 $1.937
Accumulation unit
value at end of
period............. $4.434 $3.988 $3.858 $3.261 $3.400 $3.089 $2.932 $2.521 $2.329 $2.080
Number accumulation
units outstanding
at end of period
(in thousands)..... 276 306 282 306 313 329 324 328 359 381
DC-II (0.150%)
Stock Fund Sub-Account
(INCEPTION DATE MARCH
15, 1982)
Accumulation unit
value at beginning
of period.......... $8.648 $6.964 $5.200 $5.309 $4.651 $4.232 $3.401 $3.544 $2.815 $2.370
Accumulation unit
value at end of
period............. $11.344 $8.648 $6.964 $5.200 $5.309 $4.651 $4.232 $3.401 $3.544 $2.815
Number accumulation
units outstanding
at end of period
(in thousands)..... 870 874 825 858 859 865 877 870 892 943
DC-II (0.150%)
Money Market Fund
Sub-Account
(INCEPTION DATE MARCH
15, 1982)
Accumulation unit
value at beginning
of period.......... $2.679 $2.551 $2.416 $2.328 $2.265 $2.188 $2.067 $1.915 $1.757 $1.639
Accumulation unit
value at end of
period............. $2.818 $2.679 $2.551 $2.416 $2.328 $2.265 $2.188 $2.067 $1.915 $1.757
</TABLE>

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<PAGE>

<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Number accumulation
units outstanding
at end of period
(in thousands)..... 363 321 267 266 278 300 304 324 332 342
DC-II (0.150%)
Advisers Fund
Sub-Account
(INCEPTION DATE
MARCH 15, 1982)
Accumulation unit
value at beginning
of period.......... $4.875 $4.188 $3.268 $3.365 $3.002 $2.776 $2.310 $2.284 $1.879 $1.646
Accumulation unit
value at end of
period............. $6.061 $4.875 $4.188 $3.268 $3.365 $3.002 $2.776 $2.310 $2.284 $1.879
Number accumulation
units outstanding
at end of period
(in thousands)..... 617 603 646 529 547 517 477 462 453 498
</TABLE>

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<PAGE>

<TABLE>
<CAPTION>
Year Ended December 31,
1997 1996 1995 1994 1993 1992 1991 1990 1989 1988
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
DC-II (0.150%)
Capital Appreciation
Fund Sub-Account
(INCEPTION DATE
APRIL 2, 1984)
Accumulation unit
value at beginning
of period.......... $7.501 $6.224 $4.785 $4.676 $3.876 $3.318 $2.157 $2.425 $1.956 $1.552
Accumulation unit
value at end of
period............. $9.163 $7.501 $6.224 $4.785 $4.676 $3.876 $3.318 $2.157 $2.425 $1.956
Number accumulation
units outstanding
at end of period
(in thousands)..... 782 783 737 600 502 335 255 246 242 234
DC-II (0.150%)
Mortgage Securities
Fund Sub-Account
(INCEPTION DATE
JANUARY 15, 1985)
Accumulation unit
value at beginning
of period.......... $2.761 $2.632 $2.269 $2.310 $2.176 $2.082 $1.817 $1.659 $1.468 $1.357
Accumulation unit
value at end of
period............. $3.006 $2.761 $2.632 $2.269 $2.310 $2.176 $2.082 $1.817 $1.659 $1.468
Number accumulation
units outstanding
at end of period
(in thousands)..... 114 143 76 78 111 132 108 85 91 95
DC-II (0.150%)
Index Fund Sub-Account
(INCEPTION DATE MAY
12, 1987)
Accumulation unit
value at beginning
of period.......... $3.118 $2.558 $1.876 $1.861 $1.708 $1.602 $1.238 $1.292 $0.993 $0.856
Accumulation unit
value at end of
period............. $4.129 $3.118 $2.558 $1.876 $1.861 $1.708 $1.602 $1.238 $1.292 $0.993
Number accumulation
units outstanding
at end of period
(in thousands)..... 453 354 282 217 183 144 90 72 49 40
</TABLE>

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<PAGE>

<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
DC-II (0.150%)
International
Opportunities Fund
Sub-Account
(INCEPTION DATE JULY
2, 1990)
Accumulation unit
value at beginning
of period.......... $1.592 $1.412 $1.241 $1.268 $0.949 $0.995 $0.882 $1.000 _ _
Accumulation unit
value at end of
period............. $1.595 $1.592 $1.412 $1.241 $1.268 $0.949 $0.995 $0.882 _ _
Number accumulation
units outstanding
at end of period
(in thousands)..... 411 438 329 334 154 131 96 96 _ _
DC-II (0.150%)
Dividend & Growth
Fund Sub-Account
(INCEPTION DATE MAY 1,
1995)
Accumulation unit
value at beginning
of period.......... $1.484 $1.223 $1.000 _ _ _ _ _ _ _
Accumulation unit
value at end of
period............. $1.933 $1.484 $1.223 _ _ _ _ _ _ _
Number accumulation
units outstanding
at end of period
(in thousands)..... 6,877 3,874 558 _ _ _ _ _ _ _
</TABLE>

-23-
<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, the mortality and expense risk charge and the
Annual Maintenance Fee.

The Bond Fund and Mortgage Securities Fund Sub-Accounts may advertise yield in
addition to total return. The yield will be computed in the following manner:

The net investment income per unit earned during a recent 30 day period is
divided by the unit value on the last day of the period. This figure reflects
the recurring charges on the Separate Account level including the Annual
Maintenance Fee and the mortality and expense risk charge.

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

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

INTRODUCTION

This Prospectus has been designed to provide you with the necessary information
to make a decision on purchasing contracts issued in conjunction with a Deferred
Compensation Plan or

-24-

<PAGE>

Qualified Plan of an Employer offered by Hartford in Separate Account DC-I or
DC-II. 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 Account 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, pages
4 and 5, prior to reading this Prospectus to familiarize yourself with the terms
being used.

THE CONTRACTS AND THE SEPARATE ACCOUNTS

What are the contracts?

On contracts issued in conjunction with a Qualified Plan of an Employer,
contributions are held in DC-II during both the Accumulation Period and
Annuity Period.

The Qualified Plan contracts available with respect to DC-II are limited to
voluntary plans established and sponsored by Employers for their Employees.
Qualified Plans provide a way for an Employer to establish a funded
retirement plan for its Employees. The contract is normally issued to the
Employer or to the trustee or custodian of the Employer's Plan.

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.

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page 57) for a description of the sales charges and other expenses
applicable to earlier series of contracts.

Who can buy these contracts?

The group variable annuity contracts offered under this Prospectus are
offered for use in connection with plans qualified under Sections 401(a) or
403(a) of the Internal Revenue Code, including annuity purchase plans adopted
by public school systems and certain tax-exempt organizations according to
Section 403(b) of the Internal Revenue Code; annuity purchase plans adopted
according to Section 408 of the Internal Revenue Code, including employee
pension plans established for employees by a state, a political subdivision
of a state, or an agency or instrumentality of either a state or a political
subdivision of a state, and certain eligible deferred compensation plans as
defined in Section 457 of the Internal Revenue Code; and pension or
profit-sharing plans described in Section 401(a) and 401(k) ("Qualified
Contracts").

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
47.) Provision has been made for DC-II only, to be operative during the life
of a contract issued in conjunction with a Qualified Plan. DC-I and a series
of Separate Account Two (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.

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

Under Connecticut law, the assets of the Separate Accounts attributable to
the contracts offered under this Prospectus are held for the benefit of the
owners of, and the persons entitled to payments under, those contracts. Also,
in accordance with the contracts, the assets in the Separate Accounts
attributable to contracts participating in the Separate Accounts are not
chargeable with liabilities arising out of any other business Hartford may
conduct. So,

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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 FUNDS 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.

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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.

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 Contributions?

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
$30.00, 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 DC-I and
DC-II. 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 are prohibited.

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Similarly, transfers of assets presently held in the Money Market Fund
Sub-Account, or which were held in the Money Market Fund Sub-Account or the
General Account 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. Telephone transfer changes
may not be permitted in some states. 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
Participants 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 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.

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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. 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 contract be
redeemed or surrendered?" commencing on page 32). 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?

Qualified Plans and Deferred Compensation Plans generally prohibit the
assignment of a contract or any interest therein. 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

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investment factor of the appropriate Sub-Accounts, 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 Period then ending. You should refer to the
prospectus for each of the Funds which accompanies this Prospectus for a
description of how the assets of each Fund are valued since each
determination has a direct bearing on the Accumulation Unit value of the
Sub-Account and therefore the value of a contract.

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.

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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 35) 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 35.)

How can a contract be redeemed or surrendered?

THERE ARE CERTAIN RESTRICTIONS ON SECTION 403(b) TAX-SHELTERED ANNUITIES. AS
OF DECEMBER 31, 1988, ALL SECTION 403(b) ANNUITIES HAVE LIMITS ON FULL AND
PARTIAL SURRENDERS. CONTRIBUTIONS TO THE CONTRACT MADE AFTER DECEMBER 31,
1988 AND ANY INCREASES IN CASH VALUE AFTER DECEMBER 31, 1988 MAY NOT BE
DISTRIBUTED UNLESS THE CONTRACT OWNER/EMPLOYEE HAS (A) ATTAINED AGE 59 1/2,
(B) TERMINATED EMPLOYMENT, (C) DIED, (D) BECOME DISABLED, OR (E) EXPERIENCED
FINANCIAL HARDSHIP. DISTRIBUTIONS DUE TO FINANCIAL HARDSHIP OR SEPARATION
FROM SERVICE MAY STILL BE SUBJECT TO A PENALTY TAX OF 10%.

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

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.

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(See "What are the available Annuity options under the contracts?" commencing
on page 35.) 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 35.)

3. To surrender a Participant's Individual Account under the contract for a
lump sum cash settlement, in which event the Annual Maintenance Fee and any
applicable contingent deferred sales charges will be deducted. (See "How are
the charges under these contracts made?" commencing on page 39.) 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-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 39.) If the contingent
deferred sales charges have been experience rated (see "How are the charges
under these contracts made?" commencing on page 39), 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

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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 the caption "Can a contract be modified?"
commencing on page 38), 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.

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 65 under Option 2 with 120 monthly payments certain.
However, Hartford will not assume responsibility in determining or monitoring
minimum distributions beginning at age 70 1/2.

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

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

In addition to having the right to allocate the value of a Participant's
Individual Account held in the Separate Account during the Accumulation
Period to establish an Annuitant's Account during the Annuity Period, a
Deferred Compensation Plan Contract Owner (with respect to DC-I only) may
make additional Contributions at the beginning of the Annuity Period for the
purpose of effecting increased Annuity payments for Participants. All such
additional Contributions shall be subject to a deduction for sales expenses,
as well as any applicable Premium Taxes as follows:

Additional Contribution To An Annuitant's Account Total Deduction
------------------------------------------------- ---------------
<S> <C> <C>
On the first $ 50,000 3.50%
On the next $ 50,000 2.00%
On the excess over $100,000 1.00%
</TABLE>

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)

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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

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

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 payment in the event of death prior to the due date for the
second payment and so on.

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<PAGE>

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 or 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 the charges under
these contracts made?" commencing on page 39).

On Qualified Plans, Options 2, 3 and 5 are available only if the guaranteed
payment period is less than the life expectancy of the Annuitant at the time the
option becomes effective. Such life expectancy shall be computed on the basis of
the mortality table prescribed by the Internal Revenue Service, or if none is
prescribed, the mortality table then in use by Hartford.

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

How are Variable Annuity payments determined?

The value of the Annuity Unit for each Sub-Account in the Separate Account
for any day is determined by multiplying the value for the preceding day by
the product of (1) the net investment factor (see "How is the Accumulation
Unit value determined?" commencing on page 31) 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

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<PAGE>

initial payment but more slowly rising and more rapidly falling subsequent
payments than would a lower interest rate assumption.

The amount of the first monthly Annuity payment, determined as described
above, is divided by the value of an Annuity Unit for the appropriate
Sub-Account as of the close of business on the fifth business day preceding
the day on which the payment is due in order to determine the number of
Annuity Units represented by the first payment. This number of Annuity Units
remains fixed during the Annuity Period, and in each subsequent month the
dollar amount of the Annuity payment is determined by multiplying this fixed
number of Annuity Units by the then current Annuity Unit value.

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

Here is an example of how a variable annuity is determined:

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

<TABLE>
<CAPTION>
<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 month 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

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<PAGE>

sales charges which are applicable at the time a Participant's Individual
Account is established under a contract, will continue to be applicable. In
addition, the limitations on the deductions for the Mortality, Expense Risks
and Administrative Undertakings and the Annual Maintenance Fee will continue
to apply in all Contract Years.

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. For Contracts under which variable account
Contributions are held under Separate Account DC-I during the Accumulation
Period, a deduction for contingent deferred sales charges is made if there is
any surrender of contract values during the first 12 Participant's 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. For Contracts under which variable account
Contributions are held under Separate Account DC-II during the Accumulation
Period, a deduction for contingent deferred sales charges is made if there is
any surrender of contract values during the first 15 Participant Contract
Years. During the first 8 years thereof, a maximum deduction of 5% will be
made against the full amount of any such surrender. During the next 7 years
thereof, a maximum deduction of 3% will be made against the full amount of
any such surrender. Contingent deferred sales charges will never exceed 8.5%
of aggregate Contributions to a Participant's Individual Account. The amount
or term of the contingent deferred sales charge may be reduced (see "Charges
Under the Contract -- Experience Rating of Contracts," page 42).

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

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<PAGE>

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

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

Is there ever a time when the sales charges do not apply?

No deduction for contingent deferred sales charges will apply to 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, or to the Plan of another employer, 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 contract issued
by Hartford or an affiliate of Hartford.

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

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<PAGE>

administrative expenses, if greater than the deductions provided for in the
contracts because of the mortality and expense undertakings by Hartford.

In providing an expense undertaking with respect to both DC-I and DC-II,
Hartford assumes the risk that the deductions for contingent deferred sales
charges, and the Annual Maintenance Fee 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.

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 42). 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.

Under a contract issued to Hartford Fire Insurance Company (a parent company
of Hartford), as custodian for the Hartford Insurance Group ("HIG") Employer
Sponsored Individual Retirement Account, no deduction for mortality and
expense charges are made against the assets of the Separate Account. A
deduction of 0.15% is made under this contract for administrative
undertakings. All costs of the mortality and expense undertakings and the
reduction in charges for the administrative undertakings are being assumed by
HIG since the

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<PAGE>

plan is limited to employees of HIG and is in the nature of an additional
employee benefit for its Employees. In calculating the Accumulation and
Annuity Unit prices with respect to DC-II, no deduction will be made for such
mortality and expense undertakings on this contract but the deduction of
0.15% for administrative undertakings will be made. Separate Accumulation and
Annuity Unit prices are maintained with respect to HIG and non-HIG contracts.
The expense of maintaining separate unit prices is borne solely by HIG.
Provision of this benefit for HIG employees in no way affects present or
future charges, rights, benefits or contract values of other Contract Owners.

Are there any other administrative charges?

There may be an Annual Maintenance Fee deduction from the value of each
Participant's Individual Account under the contracts. Currently , there is an
Annual Maintenance Fee of $25.00 assessed against any Participant's
Individual Account value in Separate Account DC-II. The Annual Maintenance
Fee may be reduced or waived (see "Charges Under the Contract - Experience
Rating of Contracts," page 42).

The Annual Maintenance Fee will be deducted from the value of each such
Account on the last business day of each Participant's Contract Year;
provided, however, that if the value of a Participant's Individual Account is
redeemed in full at any time before the last business day of the
Participant's Contract Year, then the Annual Maintenance Fee charge will be
deducted from the proceeds of such redemption. No deduction for the Annual
Maintenance Fee will be made during the Annuity Period under the contracts.

In the event that the contract contains a General Account option or the
contract is issued in conjunction with a separate Hartford General Account
contract, the Annual Maintenance Fee, as described above, will be charged
against DC-I or DC-II (as applicable) and the General Account contract or
option on a pro rata basis.

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

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<PAGE>

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?

Re-allocation of monies between or among Sub-Accounts under the contracts may
be subject to a $5.00 charge for each such transfer (see "Charges Under the
Contract -- Experience Rating of Contracts," page 42). Currently there is no
transfer charge.

HARTFORD LIFE INSURANCE COMPANY AND THE FUNDS

What is Hartford?

Hartford Life Insurance Company ("Hartford") is a stock life insurance company
engaged in the business of writing 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>
- -------------------------------------------------------------------------------
RATING AGENCY EFFECTIVE RATING BASIS OF RATING
DATE OF
RATING
- -------------------------------------------------------------------------------
<S> <C> <C> <C>
A.M. Best and Company, Inc. 9/9/97 A+ Financial soundness and
operating performance.

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<PAGE>

- -------------------------------------------------------------------------------
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.

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<PAGE>

HARTFORD DIVIDEND AND GROWTH FUND

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

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 investing 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" -Registered Trademark-, "Standard & Poor's 500", and "500" are
trademarks of The McGraw-Hill Companies, Inc. and have been licensed for use
by Hartford Life Insurance Company and affiliates. The Hartford Index Fund,
Inc. ("Index Fund") is not sponsored, endorsed, sold or promoted by
Standard & Poor's 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.

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<PAGE>

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.

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.

Shares of Calvert Social Balanced Portfolio, a series 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.

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

The Advisers Fund Sub-Account was not available under contracts issued prior
to May 2, 1983. The Capital Appreciation Fund Sub-Account was not available
under contracts issued prior to May 1, 1984. The Mortgage Securities Fund
Sub-Account was not available under contracts issued prior to January 15,
1985. The Index Fund Sub-Account was not available under contracts issued
prior to May 1, 1987. The Dividend and Growth Fund 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.

INVESTMENT ADVISERS

All of 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.

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<PAGE>

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 portfolio 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.

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
Subchapter 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

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<PAGE>

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

No taxes are due on interest, dividends and short-term or long-term capital
gains earned by DC-II with respect to qualified or non-qualified contracts.

C. INFORMATION REGARDING TAX-QUALIFIED RETIREMENT PLANS

The tax rules applicable to tax-qualified contract owners, including
restrictions on contributions and distributions, taxation of distributions
and tax penalties, vary according to the type of plan as well as the terms
and conditions of the plan itself. Various tax penalties may apply to
contributions in excess of applicable limits, distributions prior to age
59 1/2 (subject to certain exceptions), distributions which do not
conform to applicable commencement and minimum distribution rules, and
certain other transactions with respect to tax-qualified plans. Therefore,
this summary does not attempt to provide more than general information
about the tax rules associated with use of a Contract by a tax-qualified
retirement plan. Contract owners, plan participants and beneficiaries are
cautioned that the rights and benefits of any person to benefits may be
controlled by the terms and conditions of the tax-qualified retirement
plan itself, regardless of the terms and conditions of a Contract, but
that Hartford is not bound by the terms and conditions of such plans to
the extent such terms conflict with a Contract, unless Hartford
specifically consents to be bound. Additionally, some tax-qualified
retirement plans are subject to distribution and other requirements which
are not incorporated into Hartford's administrative procedures. 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, owners,
participants and beneficiaries are encouraged to consult their own tax
advisors as to specific tax consequences.

1. TAX-QUALIFIED PENSION OR PROFIT-SHARING PLANS Provisions of the Code
permit eligible employers to establish tax-qualified pension or profit
sharing plans (described in Section 401(a) and 401(k), if applicable, and
exempt from taxation under Section 501(a) of the Code), and Simplified
Employee Pension Plans (described in Section 408(k)). Such plans are
subject to limitations on the amount that may be contributed, the persons
who may be eligible to participate and the time when distributions must
commence. Employers intending to use these contracts in connection with
tax-qualified pension or profit-sharing plans should seek competent tax
and other legal advice.

2. TAX SHELTERED ANNUITIES UNDER SECTION 403(b) Section 403(b) of the Code
permits public

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school employees and employees of certain types of charitable, educational
and scientific organizations, as specified in Section 501(c)(3) of the
Code, to purchase annuity contracts, and, subject to certain limitations,
to exclude such contributions from gross income. Generally, such
contributions may not exceed the lesser of $10,000 (indexed) or 20% of an
employee's "includable compensation" for such employee's most recent full
year of employment, subject to other adjustments. Special provisions under
the Code may allow some employees to elect a different overall limitation.

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

(a) after the participating employee attains age 59 1/2;
(b) upon separation from service;
(c) upon death or disability; or
(d) in the case of hardship (and in the case of hardship, any income
attributable to such contributions may not be distributed).

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

3. DEFERRED COMPENSATION PLANS UNDER SECTION 457 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. Such a 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

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of participants and their beneficiaries. Special transition rules apply to
such Eligible governmental Deferred Compensation Plans already in
existence on August 20, 1996, and provide that such plans need not
establish a trust before January 1, 1999. However, this requirement of a
trust does not apply to amounts under an Eligible 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 an Eligible Deferred Compensation Plan are
prohibited under Section 457 of the Code unless made after the
participating employee attains age 702, 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.

4. INDIVIDUAL RETIREMENT ANNUITIES UNDER SECTION 408 Section 408 of the Code
permits eligible individuals to establish individual retirement programs
through the purchase of Individual Retirement Annuities ("IRAs"). IRAs are
subject to limitations on the amount that may be contributed, the
contributions that may be deducted from taxable income, the persons who
may be eligible and the time when distributions may commence. Also,
distributions from certain qualified plans may be "rolled-over" on a
tax-deferred basis into an IRA.

Certain Contracts may be offered as Roth IRAs under Section 408A of the
Code. Contributions to a Roth IRA are not deductible. Subject to special
limitations, a regular IRA may be converted into a Roth IRA or a
distribution from a regular IRA may be rolled over to a Roth IRA. However,
a conversion or a rollover from a regular IRA to a Roth IRA is not
excludable from gross income. If certain conditions are met, qualified
distributions from a Roth IRA are tax-free.

5. TAX PENALTIES Distributions from retirement plans are generally taxed
under Section 72 of the Code. Under these rules, a portion of each
distribution may be excludable from income. The excludable amount is the
portion of the distribution which bears the same ratio as the after-tax
contributions bear to the expected return.

a. PREMATURE DISTRIBUTION Distributions from a tax-qualified plan before
the Participant attains age 59 1/2 are generally subject to an
additional penalty tax equal to 10% of the taxable portion of the
distribution. The 10% penalty does not apply to distributions made
after the employee's death, on account of disability, for eligible
medical expenses and distributions in the form of a life annuity and,
except in the case of an IRA, certain distributions after separation
from service after age 55. For these purposes, a life annuity means a
scheduled series of substantially equal periodic payments for the life
or life expectancy of the Participant (or the joint lives or life
expectancies of the Participant and Beneficiary).

In addition, effective for distributions made from an IRA after
December 31, 1997,

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there is no such penalty tax on distributions that do not exceed the
amount of certain qualifying higher education expenses, as defined by
Section 72(t)(7) of the Code, or which are qualified first-time
homebuyer distributions meeting the requirements of Section 72(t)(8) of
the Code.

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

An individual's interest in a tax-qualified retirement plan generally
must be distributed, or begin to be distributed, not later than April 1
of the calendar year following the later of (i) the calendar year in
which the individual attains age 70 1/2 or (ii) the calendar year in
which the individual retires from service with the employer sponsoring
the plan ("required beginning date"). However, the required beginning
date for an individual who is a five (5) percent owner (as defined in
the Code), or who is the owner of an IRA, is April 1 of the calendar
year following the calendar year in which the individual attains age 70
1/2. The entire interest of the Participant must be distributed
beginning no later than the required beginning date over 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 an individual dies before reaching his or her required beginning
date, the individual's entire interest must generally be distributed
within five years of the individual's death. However, this rule will be
deemed satisfied, if distributions begin before the close of the
calendar year following the individual's death to a designated
Beneficiary (or over a period not extending beyond the life expectancy
of the beneficiary). If the Beneficiary is the individual's surviving
spouse, distributions may be delayed until the individual would have
attained age 70 1/2.

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

c. WITHHOLDING In general, distributions from IRAs and plans described in
Section 457 of the Code are subject to regular wage withholding rules.
Periodic distributions from other tax-qualified retirement plans that
are made for a specified period of 10 or more years or for the life or
life expectancy of the participant (or the joint lives or life
expectancies of the participant and beneficiary) are generally subject
to federal income tax withholding as if the recipient were married
claiming three exemptions.

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The recipient of periodic distributions may generally elect not to have
withholding apply or to have income taxes withheld at a different rate
by providing a completed election form.

Other distributions from such other tax-qualified retirement plans are
generally subject to mandatory income tax withholding at the flat rate
of 20% unless such distributions are:

1) the non-taxable portion of the distribution;
2) required minimum distributions; or
3) direct transfer distributions.

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

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

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

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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, however, will 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, including any of its own
shares, of the appropriate Fund in the same proportion as shares of that Fund
for which instructions have been received.

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

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

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

Will other contracts be participating in the Separate Accounts?

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

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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 Individual Participants' 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
HSD, 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
Companies, P. O. Box 2999, Hartford, CT 06104-2999.

Are you relying on any experts as to any portion of this Prospectus?

The audited financial statements and financial statement
schedules included in this prospectus and elsewhere in the registration
statement have been audited by Arthur Andersen LLP, independent public
accountants, as indicated in their reports with respect thereto, and are
included herein in reliance upon the authority of said firm as experts in
giving said reports.

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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

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APPENDIX

ACCUMULATION PERIOD UNDER PRIOR GROUP CONTRACTS

Such contracts are no longer being issued. Contract Owners may continue to
make Contributions to the contracts subject to the following charges.

A. DEDUCTIONS UNDER THE PRIOR GROUP CONTRACTS FOR SALES EXPENSES, THE MINIMUM
DEATH BENEFIT GUARANTEE AND ANY APPLICABLE PREMIUM TAXES.

Contributions made to a Participant's Individual Account pursuant to the terms
of the prior contracts are subject to the following deductions:

AGGREGATE CONTRIBUTION MINIMUM
AMOUNTS TO THE TOTAL SALES DEATH TOTAL AS % OF
SUB ACCOUNTS' INVESTED DEDUCTION EXPENSES BENEFIT NET AMOUNT
DEDUCTIONS PORTION REPRESENTING
<S> <C> <C> <C> <C>
On the first $2,500............................... 7.00% 6.25% .75% 7.53%
On the next $47,500............................... 3.50% 2.75% .75% 3.63%
On the next $50,000............................... 2.00% 1.25% .75% 2.04%
On the excess over $100,000....................... 1.00% .25% .75% 1.01%
</TABLE>

* This illustration does not assume the payment of any Premium Taxes.

Under the schedule of deductions shown above, all amounts contributed on
behalf of a Participants Individual Account to the Bond Fund and Stock Fund
Sub-Accounts are aggregated to determine if a particular level of deductions has
been reached. Thus, if a Contribution has been made on behalf of a Participant's
Account in the amount of $100 and total Contributions of $2,450 have already
been made on his or her behalf, the first $50 of the payment will be subject to
a deduction of 7.00% and the remainder to a percentage of 3.50%.

Notwithstanding the above, on variable only contracts and on combination fixed
and/or variable contracts where the annualized stipulated purchase payments or
Contributions with respect to all Participants shall equal or approximate
$250,000 at the end of the second anniversary of the contract, the sales and
minimum death benefits deduction on the aggregate Contributions up to and
including $2,500 with respect to each Participant shall be at the rate of 5%
rather than 7%.

Hartford reserves the right to limit any increase in the Contributions made to
a Participant's Individual Account to not more than three times the total
Contributions made on behalf of such Participant during the initial 12
consecutive months of the Account's existence under the contract of the present
guaranteed deduction rates. Increases in excess of those described will be
accepted only with the consent of Hartford and subject to the then current
deductions being made for sales charges, the Minimum Death Benefit guarantee and
mortality and expense undertaking.

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Each contract provides for experience rating of the deduction for sales
expenses and/or the Annual Maintenance Fee. In order to experience rate a
contract, actual sales costs applicable to a particular contract are determined.
If the costs exceed the amounts deducted for such expenses, no additional
deduction will be made. If, however, the amounts deducted for such expenses
exceed actual costs, Hartford, in its discretion, may allocate all, a portion,
or none of such excess as an experience rating credit. If such an allocation is
made, the experience credit will be made as considered appropriate: (1) by a
reduction in the amount deducted from subsequent contributions for sales
expenses; (2) by the crediting of a number of additional Accumulation Units or
by Annuity Units, as applicable, without deduction of any sales or other
expenses therefrom; (3) or by waiver of the Annual Maintenance Fees or by a
combination of the above. To date experience rating credits have been provided
on certain cases.

B. DEDUCTIONS FOR MORTALITY AND EXPENSE ADMINISTRATIVE UNDERTAKINGS, ANNUAL
CONTRACT FEE AND PREMIUM TAXES

1. MORTALITY AND EXPENSE UNDERTAKINGS

Although variable annuity payments made under the contracts will vary in
accordance with the investment performance of the Fund shares, the payments will
not be affected by (a) Hartford's actual expenses, if greater than the
deductions provided for in the contracts, or (b) Hartford's actual mortality
experience among Annuitants after retirement because of the expense and
mortality undertakings by Hartford.

In providing an expense undertaking, Hartford assumes the risk that the
deductions for sales expenses, the Annual Maintenance Fee and the Minimum Death
Benefit during the Accumulation Period may be insufficient to cover the actual
costs of providing such items.

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 or Annuitant's Accounts regardless
of how long an Annuitant 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 Employees 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 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.

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For assuming these risks Hartford makes a minimum daily charge against the
value of the average daily assets held under DC-I and DC-II, as appropriate, of
1.25% with respect to the Bond Fund, Stock Fund and Money Market Fund
Sub-Accounts where available, on an annual basis. This rate may be periodically
increased by Hartford subject to a maximum annual rate of 2.00%. However, no
increase will occur unless the Securities and Exchange Commission first approves
this increase.

2. ANNUAL MAINTENANCE FEE

There will be an Annual Maintenance Fee deduction in the amount of $10.00 from
the value of each such Participant's Individual Account under the contracts,
except as set forth below.

This fee will be deducted from the value of each such account on the last
business day of each calendar year; provided, however, that if the value of a
Participant's Individual Account is redeemed in full at any time before the last
business day of the year, then the Annual Maintenance Fee charge will be
deducted from the proceeds of such redemption. No contract fee deduction will be
made during the Annuity Payment period under the contracts.

In the event that the Contributions made on behalf of a Participant are
allocated partially to the fixed annuity portion of the Participant's Individual
Account and partially to the variable annuity portion of the Participant's
Individual Account, then the Annual Maintenance Fee will be deducted first from
the value of the fixed annuity portion of the Participant's Individual Account.
If the value of the fixed annuity portion of the Participant's Individual
Account is insufficient to pay the fee, then any deficit will be deducted from
the value of the variable annuity portion of the Participant's Individual
Account in the following manner: if there are no accumulation units in the
General Account or if their value is less than $10.00, the General Account
portion of an account will be made against values held in the Stock Fund
Sub-Account of DC-I. If the Stock Fund Sub-Account values are insufficient to
cover the fee, the fee shall be deducted from the account values held in the
Bond Fund Sub-Account of DC-I. The fee is not applicable to the Money Market
Fund Sub-Account where available. In the even that the Contributions made on
behalf of a Participant are allocated partially to the General Account and
partially to the Separate Account, the Annual Maintenance Fee will be charged
against the Separate Account and General Account on a pro rata basis.

3. PREMIUM TAXES

A deduction is also made for Premium Taxes, if applicable. On any contract
subject to Premium Taxes, the tax will be deducted from Contributions when
received, from the proceeds at surrender, or from the amount applied to effect
an annuity at the time annuity payments commence.

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TABLE OF CONTENTS
FOR
STATEMENT OF ADDITIONAL INFORMATION

SECTION PAGE
- ------- ----
DESCRIPTION OF HARTFORD LIFE INSURANCE COMPANY...........................
SAFEKEEPING OF ASSETS....................................................
INDEPENDENT PUBLIC ACCOUNTANTS...........................................
DISTRIBUTION OF CONTRACTS................................................
CALCULATION OF YIELD AND RETURN..........................................
PERFORMANCE COMPARISONS..................................................
FINANCIAL STATEMENTS.....................................................

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

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

Please send a Statement of Additional
Information for DC Variable Account-I Separate
Account Two (DC Variable Account II) (Form
HV-1009-27) to me at the following address:

_________________________________________
Name

_________________________________________
Address

_________________________________________
City/State Zip Code