<PAGE>
DIRECTOR IMMEDIATE VARIABLE ANNUITY
HARTFORD LIFE INSURANCE COMPANY
SUPPLEMENT DATED FEBRUARY 5, 1999 TO THE PROSPECTUS DATED SEPTEMBER 30, 1998
FOR DIRECTOR IMMEDIATE VARIABLE ANNUITY
The last sentence of the first paragraph of the section entitled "Income Payment
Dates" should be deleted. The following paragraph should be inserted after the
second paragraph of this section.
The Contract Owner may elect to receive level annuity payments varying annually,
as described below (See "Level Annuity Payments Varying Annually"). If the
Contract Owner does not select an Annuity Payment frequency, Annuity Payments
will be made monthly. The Contract Owner may elect to start the levelized
monthly installments as of the Income Start Date or as of any anniversary of the
Income Start Date. The Contract Owner may elect to terminate the levelized
monthly installments by notifying Hartford within 30-days prior to any
anniversary of the Income Start Date.
If the Contract Owner elects the Level Annuity Payments Provision, the Annuity
Payment frequency will be monthly only. In that case, the payments will vary
each year, but will remain level each month during any Contract Year (See "Level
Annuity Payments Varying Annually").
The Following Section shall be inserted at the end of the Section entitled
"Variable Annuity Payments" and just before the Section entitled "Exchange
("Transfer") of Annuity Units":
LEVEL ANNUITY PAYMENTS VARYING ANNUALLY
The Contract Owner may elect to receive an annual variable annuity payment in
twelve level monthly installments. The annual variable annuity payment amount
will be transferred to the Hartford General Account and held there to provide
the monthly level installments. The General Account assets are used to support
its insurance and annuity obligations other than those supported by Separate
Accounts, and are subject to the claims of the Company's general creditors.
The Level Payment Provision is only available under the following annuity
settlement options:
Payments Guaranteed for a Specified Number of Years, Life Annuity with
Payments Guaranteed for a Specified Number of Years, Joint and Last Survivor
Life Annuity with Payments Guaranteed for a Specified Number of Years, and
Life Annuity with Cash Refund.
The levelized monthly payments will be calculated with a fixed interest rate
which will be determined annually on each anniversary of the Income Start Date.
The minimum fixed interest rate will be 3%, compounded annually.
During any life contingency period (when payments continue only as long as the
Annuitant is alive), the levelized monthly payments also will be calculated with
the mortality table as stated in the Contract.
The following sentence shall be inserted after the second sentence following the
heading "Distributions After the Income Start Date" in the Section entitled
"Taxation of Purchasers of Non-Qualified Contracts":
Where Annuity Payments are paid more frequently than annually (e.g., in varying
quarterly installments, varying monthly installments or levelized monthly
installments varying annually), the "exclusion amount" for a Contract Year will
be pro-rated equally over each payment.
HV-2338
333-19605
