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HARTFORD LIFE INSURANCE COMPANY
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GROUP VARIABLE ANNUITY CONTRACTS
SUPPLEMENT DATED FEBRUARY 13, 1997 TO THE PROSPECTUS DATED MAY 1, 1996
AS REVISED ON SEPTEMBER 24, 1996 AND JANUARY 27, 1997 RESPECTIVELY,
FOR SEPARATE ACCOUNT TWO (DC-II)
TAX SHELTERED ANNUITY/INDIVIDUAL RETIREMENT ANNUITY
The following is added to page 16:
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.
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 Life 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 Life or over our recorded
telephone line. You may specify a maximum of five (5) Sub-Accounts. If, on any
transfer date, your General Account value or the value of your Accumulation
Units under the Money Market Fund Sub-Account, as applicable, is less than the
amount you have elected to have transferred, your Dollar Cost Averaging program
will end. You may cancel your Dollar Cost Averaging election by notice to
Hartford Life in writing or by calling 1-800-528-9009 and giving notice to a
Hartford Life representative on our recorded telephone line.
HV-277-0
33-59541
