<PAGE>
GROUP VARIABLE ANNUITY CONTRACTS
HARTFORD LIFE INSURANCE COMPANY
SUPPLEMENT DATED NOVEMBER 1, 1996 TO THE GROUP VARIABLE ANNUITY CONTRACTS WITH
RESPECT TO DC-I AND DC-II PROSPECTUS (HV-1524) DATED MAY 1, 1996
The Fee Table Summary of "Contract Owner Transaction Expense (All Sub Accounts)"
on page 5 of the prospectus, should read as follows:
FEE TABLE
SUMMARY
CONTRACT OWNER TRANSACTION EXPENSES
(ALL SUB-ACCOUNTS)
<TABLE>
<S> <C>
Sales Load Imposed on Purchases (as a percentage of premium
payments)............................................................ None
Transfer Fee.......................................................... $ 5
Contingent Deferred Sales Charge (as a percentage of amounts
withdrawn)
First through Sixth Year.......................................... 7%
Seventh through Twelfth Year...................................... 5%
Thirteenth Year................................................... 0%
Annual Contract Fee (1)............................................... $ 18
Annual Expenses -- Separate Account (as percentage of average account
value)
Mortality and Expense Risk (DC I)................................. 0.900%
Mortality and Expense Risk (DC II)................................ 1.250%
</TABLE>
The Transfer Fee, Contingent Deferred Sales Charge, Annual Contract Fee and
Mortality and Expense Risk charge may be reduced or eliminated. See "Experience
Rating of Contracts" on page 27.
ANNUAL FUND OPERATING EXPENSES
(AS PERCENTAGE OF NET ASSETS)
<TABLE>
<CAPTION>
TOTAL FUND
MANAGEMENT OTHER OPERATING
FEES EXPENSES EXPENSES
---------- -------- ----------
<S> <C> <C> <C>
Hartford Bond Fund............................ 0.497% 0.028% 0.525%
Hartford Stock Fund........................... 0.455% 0.020% 0.475%
HVA Money Market Fund......................... 0.421% 0.025% 0.446%
Hartford Advisers Fund........................ 0.625% 0.021% 0.646%
Hartford U.S. Government Money Market Fund.... 0.425% 0.141% 0.566%
Hartford Capital Appreciation Fund............ 0.655% 0.021% 0.676%
Hartford Mortgage Securities Fund............. 0.425% 0.041% 0.466%
Hartford Index Fund........................... 0.375% 0.014% 0.389%
Hartford International Opportunities Fund..... 0.713% 0.147% 0.860%
Calvert Responsibly Invested Balanced
Portfolio.................................... 0.700% 0.130% 0.830%
Hartford Dividend & Growth Fund............... 0.750% 0.023% 0.773%
TCI Advantage Fund............................ 1.000% 0.000% 1.000%
TCI Growth Fund............................... 1.000% 0.000% 1.000%
Fidelity VIP Growth Fund...................... 0.610% 0.090% 0.700%
Fidelity VIP Overseas Fund.................... 0.760% 0.150% 0.910%
Fidelity VIP II Contrafund.................... 0.610% 0.120% 0.730%
Fidelity VIP II Asset Manager................. 0.710% 0.100% 0.810%
</TABLE>
(1) The Annual Contract Fee is a single $18 charge on a Contract. It is deducted
proportionally from the investment options in use at the time of the charge.
Pursuant to requirements of the 1940 Act, the Annual Contract Fee has been
reflected in the Examples by a method intended to show the "average" impact
of the Annual Contract Fee on an investment in the Separate Account. The
Annual Contract Fee is deducted only when the accumulated value is $50,000
or less. In the Example, the Annual Contract Fee is approximated as a 0.06%
annual asset charge based on the experience of the Contracts.
<PAGE>
EXAMPLE -- DCI
<TABLE>
<CAPTION>
If you surrender your contract If you annuitize at the end of If you do not surrender your
at the end of the applicable the applicable time period: contract: You would pay the
time period: You would pay the You would pay the following following expenses on a $1,000
following expenses on a $1,000 expenses on a $1,000 investment, assuming a 5%
investment, assuming a 5% investment assuming a 5% annual return on assets:
annual return on assets: annual return on assets:
SUB-ACCOUNT 1 YR. 3 YRS. 5 YRS. 10 YRS. 1 YR. 3 YRS. 5 YRS. 10 YRS. 1 YR. 3 YRS. 5 YRS. 10 YRS.
------ ------- ------- -------- ------ ------- ------ -------- ------ ------- ------ --------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Hartford Bond Fund........... $ 88 $ 125 $ 165 $ 249 $ 15 $ 47 $ 81 $ 178 $ 15 $ 47 $ 82 $ 178
Hartford Stock Fund.......... 87 123 162 244 14 45 78 172 15 46 79 173
HVA Money Market Fund........ 87 123 161 240 14 44 77 169 14 45 77 170
Hartford Advisers Fund....... 89 128 171 261 16 50 87 191 16 51 88 192
U.S. Government Money Market
Fund....................... 88 126 167 253 15 48 83 182 16 49 84 183
Hartford Capital Appreciation
Fund....................... 89 129 172 264 16 51 89 194 17 52 90 195
Hartford Mortgage Securities
Fund....................... 87 123 162 243 14 45 78 171 15 45 78 172
Hartford Index Fund.......... 86 121 158 234 13 42 74 162 14 43 74 163
Hartford International
Opportunities Fund......... 91 135 181 283 18 57 99 214 19 58 99 215
Calvert Responsibly Invested
Balanced Portfolio......... 91 134 180 280 18 56 97 211 18 57 98 212
Hartford Dividend & Growth
Fund....................... 90 132 177 274 17 54 94 205 18 55 95 206
TCI Advantage Fund........... 92 139 188 297 19 61 106 229 20 62 107 230
TCI Growth Fund.............. 92 139 188 297 19 61 106 229 20 62 107 230
Fidelity VIP Growth Fund..... 89 130 173 267 16 52 90 197 17 53 91 198
Fidelity VIP Overseas Fund... 91 136 183 288 19 59 101 220 19 59 102 221
Fidelity VIP II Contrafund... 90 131 175 270 17 53 92 200 17 54 92 201
Fidelity VIP II Asset
Manager.................... 90 133 179 278 18 56 96 209 18 56 97 210
</TABLE>
EXAMPLE -- DCII
<TABLE>
<CAPTION>
If you surrender your contract If you annuitize at the end of If you do not surrender your
at the end of the applicable the applicable time period: You contract: You would pay the
time period: You would pay the would pay the following following expenses on a $1,000
following expenses on a $1,000 expenses on a $1,000 investment investment, assuming a 5%
investment, assuming a 5% assuming a 5% annual return on annual return on assets:
annual return on assets: assets:
SUB-ACCOUNT 1 YR. 3 YRS. 5 YRS. 10 YRS. 1 YR. 3 YRS. 5 YRS. 10 YRS. 1 YR. 3 YRS. 5 YRS. 10 YRS.
------ ------- ------- -------- ------ ------- ------- -------- ------ ------- ------- --------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Hartford Bond Fund........... $ 91 $ 135 $ 182 $ 285 $ 18 $ 58 $ 99 $ 216 $ 19 $ 58 $ 100 $ 217
Hartford Stock Fund (3)...... 91 134 179 280 18 56 97 211 18 57 97 211
HVA Money Market Fund........ 90 133 178 277 17 55 95 207 18 56 96 208
Hartford Advisers Fund (4)... 92 138 188 297 19 61 106 229 20 62 106 230
U.S. Government Money Market
Fund....................... 91 136 184 289 19 59 102 220 19 59 102 221
Hartford Capital Appreciation
Fund (5)................... 92 139 189 300 20 62 107 232 20 63 108 233
Hartford Mortgage Securities
Fund....................... 90 133 179 279 18 56 96 210 18 56 97 210
Hartford Index Fund (6)...... 90 131 175 271 17 53 92 201 17 54 93 202
Hartford International
Opportunities Fund......... 94 145 198 318 22 68 117 252 22 69 118 252
Calvert Responsibly Invested
Balanced Portfolio......... 94 144 196 315 21 67 115 248 22 68 116 249
Hartford Dividend & Growth
Fund....................... 93 142 194 310 21 65 112 242 21 66 113 243
TCI Advantage Fund........... 96 149 204 332 23 72 124 266 24 73 125 267
TCI Growth Fund.............. 96 149 204 332 23 72 124 266 24 73 125 267
Fidelity VIP Growth Fund..... 93 140 190 302 20 63 109 235 21 64 109 236
Fidelity VIP Overseas Fund... 95 146 200 323 22 69 120 257 23 70 120 258
Fidelity VIP II Contrafund... 93 141 192 305 20 64 110 238 21 65 111 239
Fidelity VIP II Asset
Manager.................... 94 143 195 313 21 66 114 246 22 67 115 247
</TABLE>
The purpose of this table is to assist the Contract Owner in understanding
various costs and expenses that a Contract Owner will bear directly or
indirectly. The table reflects expenses of the Separate Account and underlying
Funds. Premium taxes may also be applicable.
(3) For this table, the Stock Fund mortality and expense charges are 1.2375%.
2
<PAGE>
(4) For this table, the Advisors Fund mortality and expense charge are 1.199%.
(5) For this table, the Capital Appreciation Fund mortality and expense charges
are 1.21%.
(6) For this table, the Index Fund combined expenses are limited to 1.25%.
This EXAMPLE should not be considered a representation of past or future
expenses and actual expenses may be greater or less than those shown.
The Subsection entitled "I. Asset Charge in the Separate Account" on page 8 is
replaced with the following:
I. Asset Charge in the Separate Account
During both the Accumulation Period and the Annuity Period a charge is made
by Hartford Life for providing the mortality, expense, and administrative
undertakings under the contracts. With respect to contract values held in
DC-I, such charge is an annual rate of .90% (.50% for mortality, .15% for
expense and .25% for administrative undertakings) of the average daily net
assets of DC-I. With respect to contract values held in DC-II, such charge
is an annual rate of 1.25% (.85% for mortality, .15% for expense and .25%
for administrative undertakings) of the average daily net assets of DC-II.
The rate charged for the mortality, expense and administrative undertakings
under the contracts may be reduced (see "Experience Rating of Contracts",
page 27). The rate charged for the expense, mortality and administrative
undertakings may be periodically increased by Hartford Life subject to a
maximum annual rate of 2.00%, provided, however, that no such increase will
occur unless the Commission shall have first approved any such increase.
(See "Charges Under The Contract", page 25.)
Add the following to the end of the fourth paragraph under the Subsection
entitled "What are the DC-I and DC-II contracts?" on page 16:
The Small Business Job Protection Act of 1996, effective August 20, 1996,
requires that all assets and income of an eligible Deferred Compensation
Plan which is established by a governmental employer which is a State, a
political subdivision of a State, or any agency or instrumentality of a
State or political subdivision of a State, must be held in trust (or under
certain specified custodial accounts or annuity contracts) for the exclusive
benefit of Participants and their beneficiaries. Special transition rules
apply to such governmental Deferred Compensation Plans already in existence
on August 20, 1996, and provide that such Plans need not establish a trust
before January 1, 1999.
The sixth paragraph under the Subsection entitled "What is the mortality,
expense risk and administrative charge?" on page 26 is replaced with the
following:
For assuming these risks Hartford Life presently charges .90% (.50% for
mortality, .15% for expense and .25% for administrative undertakings) of the
average daily net assets of DC-I. With respect to the contract values in
DC-II, such charge is an annual rate of 1.25% (.85% for mortality, .15% for
expense and .25% for administrative undertakings) of the average daily net
assets of DC-II, as appropriate. The rate charged for the expense, mortality
and administrative undertakings under the contracts may be reduced (see
"Experience Rating of Contracts", page 27). The rate charged for the
expense, mortality and administrative undertakings may be periodically
increased by Hartford Life subject to a maximum annual rate of 2.00%,
provided, however, that no such increase will occur unless the Commission
shall have first approved such increase.
The following is added at the end of the second paragraph under the
Subsection entitled "3. Deferred Compensation Plans Under Section 457" on page
33:
3
<PAGE>
The Small Business Job Protection Act of 1996, effective August 20, 1996,
requires that all assets and income of an eligible Deferred Compensation Plan
which is established by a governmental employer which is a State, a political
subdivision of a State, or any agency or instrumentality of a State or political
subdivision of a State, must be held in trust (or under certain specified
custodial accounts or annuity contracts) for the exclusive benefit of
participants and their beneficiaries. Special transition rules apply to such
governmental Deferred Compensation Plans already in existence on August 20,
1996, and provide that such Plans need not establish a trust before January 1,
1999.
33-19946
4