<PAGE>
HARTFORD LIFE INSURANCE COMPANY
- --------------------------------------------------------------------------------
OMNIFLEX FLEXIBLE PREMIUM DEFERRED VARIABLE ANNUITY
SUPPLEMENT DATED SEPTEMBER 30, 1998
TO THE PROSPECTUS DATED MAY 1, 1998
The Fee Table on pages 5-6 is replaced with the following:
FEE TABLE
<TABLE>
<S> <C>
Owner Transaction Expenses
As a Percentage of Premium Payments
Maximum Sales Load Imposed on Purchases....................... 4.6%(1)
Federal Tax Charge............................................ 0.43%
Deferred Sales Load........................................... None
Separate Account Expenses
Administrative Expense Charge..................................... $2.50/mo
Mortality and Expense Risk Charge................................. 0.65%(2)
</TABLE>
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(1) The sales load will vary depending on plan characteristics.
(2) Annual expense as a percentage of average Investment Value.
ANNUAL PORTFOLIO OPERATING EXPENSES
(as a percentage of net assets)
<TABLE>
<CAPTION>
TOTAL OPERATING
MANAGEMENT FEE OTHER EXPENSES EXPENSES
(AFTER ANY (AFTER (AFTER ANY WAIVERS
WAIVERS) REIMBURSEMENTS) AND/OR REIMBURSEMENTS)(1)
--------------- --------------- --------------------------
<S> <C> <C> <C>
Hartford Capital Appreciation Fund.......................... 0.645% 0.020% 0.665%
Hartford Bond Fund.......................................... 0.515% 0.020% 0.535%
Hartford Money Market Fund.................................. 0.450% 0.015% 0.465%
N&B AMT Partners Portfolio (2).............................. 0.800% 0.060% 0.860%
N&B AMT Balanced Portfolio (2).............................. 0.850% 0.190% 1.040%
N&B AMT Limited Maturity Bond Portfolio (2)................. 0.650% 0.120% 0.770%
VIP High Income Portfolio (3)............................... 0.590% 0.120% 0.710%
VIP Equity-Income Portfolio................................. 0.500% 0.080% 0.580%
VIP II Asset Manager Portfolio (3).......................... 0.550% 0.100% 0.650%
Alger American Small Capitalization Portfolio............... 0.850% 0.040% 0.890%
Alger American Growth Portfolio............................. 0.750% 0.040% 0.790%
J.P. Morgan Bond Portfolio (4).............................. 0.300% 0.450% 0.750%
J.P. Morgan Equity Portfolio (4)............................ 0.400% 0.500% 0.900%
J.P. Morgan Small Company Portfolio (4)..................... 0.600% 0.550% 1.150%
J.P. Morgan International Opportunities Portfolio (4)....... 0.600% 0.600% 1.200%
MS Fixed Income Portfolio (5)............................... 0.000% 0.700% 0.700%
MS High Yield Portfolio (5)................................. 0.000% 0.800% 0.800%
MS Equity Growth Portfolio (5).............................. 0.000% 0.850% 0.850%
MS Value Portfolio (5)...................................... 0.000% 0.850% 0.850%
MS Global Equity Portfolio (5).............................. 0.000% 1.150% 1.150%
MS Emerging Markets Equity Portfolio (5).................... 0.000% 1.750% 1.750%
EAFE-Registered Trademark- Equity Index Fund (6)............ 0.020% 0.630% 0.650%
Equity 500 Index Fund (6)................................... 0.000% 0.300% 0.300%
Small Cap Index Fund (6).................................... 0.000% 0.450% 0.450%
</TABLE>
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(1) "Management Fee" generally represents the fee paid to the investment adviser
or its affiliate for investment and administrative services provided. "Other
Expenses" are operating expenses (other than management fees) deducted from
the Portfolios, including legal, accounting and custodian fees. For a
complete description of the nature of the services provided in consideration
of the operating expenses deducted, please see the Fund prospectuses.
(2) Neuberger & Berman AMT is divided into Portfolios, each of which invests all
of its net investable assets in a corresponding series of Advisers Managers
Trust. The figures reported under "Management Fee" include the aggregate of
the administration fees paid by the Portfolio and the management fee paid by
its corresponding series of Advisers Managers Trust. Similarly, "Other
Expenses" includes all other expenses of the Portfolio and its corresponding
series of Advisers Managers Trust.
(3) A portion of the brokerage commissions that certain funds pay was used to
reduce funds expenses. In addition, certain funds have entered into
arrangements with their custodian and transfer agent whereby credits
realized, as a result of uninvested cash balances were used to reduce
custodian expenses. Including these reductions, the total operating expenses
presented in the table would have been 0.710% for VIP High Income Portfolio,
0.570% for VIP Equity-Income Portfolio, and 0.640% for VIP II Asset Manager
Portfolio.
<PAGE>
HARTFORD LIFE INSURANCE COMPANY
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(4) Pursuant to a voluntary agreement, fees and expenses were reimbursed to the
extent certain expenses exceeded .75%, .90%, 1.15% and 1.20% of the average
daily net assets of J.P. Morgan Bond Portfolio, J.P. Morgan Equity
Portfolio, J.P. Morgan Small Company Portfolio and J.P. Morgan International
Opportunities Portfolio, respectively. Without such reimbursement, total
operating expenses would have been 1.91%, 2.31%, 3.81% and 4.25% for J.P.
Morgan Bond Portfolio, J.P. Morgan Equity Portfolio, J.P. Morgan Small
Company Portfolio and J.P. Morgan International Opportunities Portfolio,
respectively.
(5) With respect to the MS Fixed Income, MS High Yield, MS Equity Growth, MS
Value, MS Global Equity and MS Emerging Markets Equity Portfolios, the
investment adviser has voluntarily agreed to waive its investment advisory
fees and to reimburse the Portfolios if such fees would cause their
respective "Total Fund Operating Expenses" to exceed those set forth in the
table above. Absent such reductions, it is estimated that "Management Fees,"
"Other Expenses" and "Total Fund Operating Expenses" for the Portfolios
would have been as follows:
<TABLE>
<CAPTION>
TOTAL FUND
OPERATING
PORTFOLIO MANAGEMENT FEE OTHER EXPENSES EXPENSES
------------------------------------------------------------ --------------- -------------- ----------------
<S> <C> <C> <C>
MS Fixed Income............................................. 0.400% 1.310% 1.710%
MS High Yield............................................... 0.500% 1.180% 1.680%
MS Equity Growth............................................ 0.550% 1.500% 2.050%
MS Value.................................................... 0.550% 1.320% 1.870%
MS Global Equity............................................ 0.800% 1.630% 2.430%
MS Emerging Markets Equity.................................. 1.250% 2.870% 4.120%
</TABLE>
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(6) Without expense waivers and reimbursements, the total operating expenses for
BT EAFE-Registered Trademark- Equity Index Fund, BT Equity 500 Index Fund
and BT Small Cap Index Fund would have been 2.750%, 2.780% and 3.270%,
respectively.
EXAMPLE
If you surrender your Certificate or annuitize at the end of the applicable time
period:
<TABLE>
<S> <C> <C> <C> <C>
You would pay the following
expenses on a $1,000
investment, assuming a 5%
annual return on assets:
<CAPTION>
DIVISION 1 YEAR 3 YEARS 5 YEARS 10 YEARS
----------------------------- ------ ------- ------- --------
<S> <C> <C> <C> <C>
Hartford Capital Appreciation
Fund....................... $ 64 $ 92 $ 122 $ 208
Hartford Bond Fund........... 62 88 116 194
HVA Money Market Fund........ 62 86 112 186
N&B AMT Limited Maturity Bond
Portfolio.................. 65 95 128 219
N&B AMT Balanced Portfolio... 67 103 141 247
N&B AMT Partners Portfolio... 66 98 132 229
VIP High Income Portfolio.... 64 93 124 213
VIP Equity-Income
Portfolio.................. 63 89 118 199
VIP II Asset Manager......... 64 91 121 206
Alger American Small
Capitalization Portfolio... 66 99 134 232
Alger American Growth
Portfolio.................. 65 96 129 221
J.P. Morgan Bond Portfolio... 65 94 127 217
J.P. Morgan Equity
Portfolio.................. 66 99 134 233
J.P. Morgan Small Company
Portfolio.................. 68 106 147 259
J.P. Morgan International
Opportunities Portfolio.... 69 108 149 264
MS Fixed Income Portfolio.... 64 93 124 212
MS High Yield Portfolio...... 65 96 129 222
MS Equity Growth Portfolio... 65 97 132 228
MS Value Portfolio........... 65 97 132 228
MS Global Equity Portfolio... 68 106 147 259
MS Emerging Markets Equity
Portfolio.................. 74 124 176 318
EAFE-Registered Trademark-
Equity Index Fund.......... 64 91 121 206
Equity 500 Index Fund........ 60 81 104 168
Small Cap Index Fund......... 62 85 111 185
</TABLE>
The purpose of this table is to assist the Owner in understanding various
costs and expenses that an Owner will bear directly or indirectly. The table
reflects expenses of the Separate Account and underlying Portfolios. 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. Maximum
charges are assumed.
33-59069
