<PAGE>
HARTFORD LEADERS PLUS
SEPARATE ACCOUNT SEVEN
HARTFORD LIFE INSURANCE COMPANY
SUPPLEMENT DATED SEPTEMBER 1, 2000 TO THE PROSPECTUS DATED MAY 1, 2000
The following Sub-Accounts and underlying Funds will be added to the cover page
of the prospectus:
- MFS MID CAP GROWTH SERIES SUB-ACCOUNT which purchases shares of
MFS-Registered Trademark- Mid Cap Growth Series of the
MFS-Registered Trademark- Variable Insurance Trust-SM-
- FRANKLIN TECHNOLOGY SECURITIES FUND SUB-ACCOUNT which purchases Class 2 shares
of Franklin Technology Securities Fund of the Franklin Templeton Variable
Insurance Products Trust
The Annual Fund Operating Expenses table in the prospectus is replaced with the
following:
Annual Fund Operating Expenses
As of the Fund's Year End
(As a percentage of net assets)
<TABLE>
<CAPTION>
TOTAL FUND
MANAGEMENT 12B-1 DISTRIBUTION OTHER OPERATING EXPENSES
FEES AND/OR SERVICING EXPENSES INCLUDING ANY
INCLUDING ANY FEES INCLUDING INCLUDING ANY WAIVERS AND ANY
WAIVERS WAIVERS REIMBURSEMENTS REIMBURSEMENTS
<S> <C> <C> <C> <C>
-------------------------------------------------------------------------------------------------------------------------
American Funds Asset Allocation Fund 0.43% 0.25% 0.01% 0.69%
-------------------------------------------------------------------------------------------------------------------------
American Funds Bond Fund 0.51% 0.25% 0.02% 0.78%
-------------------------------------------------------------------------------------------------------------------------
American Funds Global Growth Fund 0.68% 0.25% 0.03% 0.96%
-------------------------------------------------------------------------------------------------------------------------
American Funds Global Small Capitalization Fund 0.79% 0.25% 0.03% 1.07%
-------------------------------------------------------------------------------------------------------------------------
American Funds Growth Fund 0.38% 0.25% 0.01% 0.64%
-------------------------------------------------------------------------------------------------------------------------
American Funds Growth-Income Fund 0.34% 0.25% 0.01% 0.60%
-------------------------------------------------------------------------------------------------------------------------
American Funds International Fund 0.55% 0.25% 0.05% 0.85%
-------------------------------------------------------------------------------------------------------------------------
American Funds New World Fund (1) 0.89% 0.25% 0.06% 1.20%
-------------------------------------------------------------------------------------------------------------------------
Franklin Real Estate Fund -- Class 2 (2) (3) 0.56% 0.25% 0.02% 0.83%
-------------------------------------------------------------------------------------------------------------------------
Franklin Small Cap Fund -- Class 2 (2) (4) 0.55% 0.25% 0.27% 1.07%
-------------------------------------------------------------------------------------------------------------------------
Franklin Strategic Income Securities Fund --
Class 1 (5) 0.43% N/A 0.32% 0.75%
-------------------------------------------------------------------------------------------------------------------------
Franklin Technology Securities Fund --
Class 2 (6) 0.55% 0.25% 0.38% 1.18%
-------------------------------------------------------------------------------------------------------------------------
Hartford Money Market HLS Fund 0.45% N/A 0.02% 0.47%
-------------------------------------------------------------------------------------------------------------------------
MFS-Registered Trademark- Capital Opportunities
Series (7) (8) 0.75% N/A 0.16% 0.91%
-------------------------------------------------------------------------------------------------------------------------
MFS-Registered Trademark- Emerging Growth
Series (7) 0.75% N/A 0.09% 0.84%
-------------------------------------------------------------------------------------------------------------------------
MFS-Registered Trademark- Global Equity Series
(7) (8) 1.00% N/A 0.21% 1.21%
-------------------------------------------------------------------------------------------------------------------------
MFS-Registered Trademark- Growth Series (7) (8) 0.75% N/A 0.16% 0.91%
-------------------------------------------------------------------------------------------------------------------------
MFS-Registered Trademark- Growth with Income
Series (7) 0.75% N/A 0.13% 0.88%
-------------------------------------------------------------------------------------------------------------------------
MFS-Registered Trademark- High Income Series
(7) (8) 0.75% N/A 0.16% 0.91%
-------------------------------------------------------------------------------------------------------------------------
MFS-Registered Trademark- Mid Cap Growth Series
(8) 0.75% N/A 0.15% 0.90%
-------------------------------------------------------------------------------------------------------------------------
MFS-Registered Trademark- New Discovery Series
(7) (8) 0.90% N/A 0.17% 1.07%
-------------------------------------------------------------------------------------------------------------------------
MFS-Registered Trademark- Total Return Series
(7) 0.75% N/A 0.15% 0.90%
-------------------------------------------------------------------------------------------------------------------------
Mutual Shares Securities Fund -- Class
2 (2) (9) 0.60% 0.25% 0.19% 1.04%
-------------------------------------------------------------------------------------------------------------------------
Templeton Asset Strategy Fund (formerly
Templeton Asset Allocation Fund) --
Class 2 (2) (10) 0.60% 0.25% 0.18% 1.03%
-------------------------------------------------------------------------------------------------------------------------
Templeton Developing Markets Securities Fund
(formerly Templeton Developing Markets Equity
Fund) -- Class 1 (11) 1.25% N/A 0.31% 1.56%
-------------------------------------------------------------------------------------------------------------------------
Templeton Growth Securities Fund (formerly
Templeton Global Growth Fund) --
Class 2 (2) (12) 0.83% 0.25% 0.05% 1.13%
-------------------------------------------------------------------------------------------------------------------------
Templeton International Securities Fund
(formerly Templeton International Fund) --
Class 2 (2) (13) 0.69% 0.25% 0.19% 1.13%
-------------------------------------------------------------------------------------------------------------------------
</TABLE>
(1) These expenses are annualized. The Fund began operations on June 17, 1999.
(2) The Fund's Class 2 distribution plan or "Rule 12b-1 Plan" is described in
the Fund's prospectus. While the maximum amount payable under the Fund's
Class 2 Rule 12b-1 Plan is 0.35% per year of the Fund's average daily net
assets, the Board of Trustees of Franklin Templeton Variable Insurance
Products Trust has set the current rate at 0.25% per year through at least
April 30, 2001.
(3) The fund administration fee is paid indirectly through the management fee.
(4) On 2/8/00, a merger and reorganization was approved that combined the
Franklin Small Cap Fund with a similar fund of the Templeton Variable
Products Series Fund, effective 5/1/00. On 2/8/00, fund shareholders
approved new management fees, which apply to the combined fund effective
5/1/00. The table shows restated total expenses based on the new fees and
assets of the fund as of 12/31/99, and not the assets of the combined fund.
However, if the table reflected both the new fees and the combined assets,
<PAGE>
the fund's expenses after 5/1/00 would be estimated as: Management Fees
0.55%, Distribution and Service Fees 0.25%, Other Expenses 0.27%, and Total
Fund Operating Expenses 1.07%.
(5) The management fees shown are based on the fund's maximum contractual
amount. Other expenses are estimated. The manager and administrator have
agreed in advance to waive or limit their respective fees and to assume as
their own expense certain expenses otherwise payable by the fund so that
Total Fund Operating Expenses do not exceed 0.75% of average net assets for
the current fiscal year. After December 31, 2001, the manager and
administrator may end this arrangement at any time. Without this reduction
Total Fund Operating Expenses were:
<TABLE>
<CAPTION>
TOTAL FUND
OPERATING
MANAGEMENT FEES 12B-1 FEES OTHER EXPENSES EXPENSES
<S> <C> <C> <C> <C>
---------------------------------------------------------------------------------------------------------------
Franklin Strategic Income Securities Fund 0.43% N/A 0.52% 0.95%
---------------------------------------------------------------------------------------------------------------
</TABLE>
(6) The management fees shown are based on the fund's maximum contractual
amount. Other expenses are estimated. The manager and administrator have
agreed in advance to waive or limit their respective fees and to assume as
their own expense certain expenses otherwise payable by the fund so that
Total Fund Operating Expenses do not exceed 1.30% of average net assets,
including Class 2's 12b-1 plan fee, for the current fiscal year. After
December 31, 2001, the manager and administrator may end this arrangement at
any time.
(7) Each Series has an expense offset arrangement which reduces the series'
custodian fee based upon the amount of cash maintained by the series with
its custodian and dividend disbursing agent. Each series may enter into
other such arrangements and directed brokerage arrangements, which would
also have the effect of reducing the series' expenses. After these
reductions, the Total Fund Operating Expenses would be:
<TABLE>
<CAPTION>
TOTAL FUND
OPERATING
MANAGEMENT FEES 12B-1 FEES OTHER EXPENSES EXPENSES
<S> <C> <C> <C> <C>
---------------------------------------------------------------------------------------------------------------
MFS-Registered Trademark- Capital Opportunities
Series 0.75% N/A 0.15% 0.90%
---------------------------------------------------------------------------------------------------------------
MFS-Registered Trademark- Emerging Growth Series 0.75% N/A 0.08% 0.83%
---------------------------------------------------------------------------------------------------------------
MFS-Registered Trademark- Global Equity Series 1.00% N/A 0.15% 1.15%
---------------------------------------------------------------------------------------------------------------
MFS-Registered Trademark- Growth Series 0.75% N/A 0.15% 0.90%
---------------------------------------------------------------------------------------------------------------
MFS-Registered Trademark- Growth with Income Series 0.75% N/A 0.12% 0.87%
---------------------------------------------------------------------------------------------------------------
MFS-Registered Trademark- High Income Series 0.75% N/A 0.15% 0.90%
---------------------------------------------------------------------------------------------------------------
MFS-Registered Trademark- New Discovery Series 0.90% N/A 0.15% 1.05%
---------------------------------------------------------------------------------------------------------------
MFS-Registered Trademark- Total Return Series 0.75% N/A 0.14% 0.89%
---------------------------------------------------------------------------------------------------------------
</TABLE>
(8) MFS has contractually agreed, subject to reimbursement, to bear expenses for
these series such that each such series' "Other Expenses" (after taking into
account the expense offset arrangement described above), do not exceed 0.15%
of the average daily net assets of the series during the current fiscal
year. These contractual fee arrangements will continue until at least May 1,
2001, unless changed with the consent of the board of trustees which
oversees the series. Without this waiver, "Total Fund Operating Expenses"
would have been:
<TABLE>
<CAPTION>
TOTAL FUND
OPERATING
MANAGEMENT FEES 12B-1 FEES OTHER EXPENSES EXPENSES
<S> <C> <C> <C> <C>
---------------------------------------------------------------------------------------------------------------
MFS-Registered Trademark- Capital Opportunities
Series 0.75% N/A 0.27% 1.02%
---------------------------------------------------------------------------------------------------------------
MFS-Registered Trademark- Global Equity Series 1.00% N/A 3.39% 4.39%
---------------------------------------------------------------------------------------------------------------
MFS-Registered Trademark- Growth Series 0.75% N/A 0.71% 1.46%
---------------------------------------------------------------------------------------------------------------
MFS-Registered Trademark- High Income Series 0.75% N/A 0.22% 0.97%
---------------------------------------------------------------------------------------------------------------
MFS-Registered Trademark- Mid Cap Growth Series 0.75% N/A 0.46% 1.21%
---------------------------------------------------------------------------------------------------------------
MFS-Registered Trademark- New Discovery Series 0.90% N/A 1.59% 2.49%
---------------------------------------------------------------------------------------------------------------
</TABLE>
(9) On 2/8/00, a merger and reorganization was approved that combined the Mutual
Shares Securities Fund with a similar fund of Templeton Variable Products
Series Fund, effective 5/1/00. The table shows total expenses based on the
fund's assets as of 12/31/99, and not the assets of the combined fund.
However, if the table reflected combined assets, the fund's expenses after
5/1/00 would be estimated as: Management Fees 0.60%, Distribution and
Service Fees 0.25%, Other Expenses 0.19%, and Total Fund Operating Expenses
1.04%.
(10) On 2/8/00, shareholders approved a merger and reorganization that combined
the Templeton Asset Strategy Fund with the Templeton Global Asset Allocation
Fund, effective 5/1/00. The shareholders of that fund had approved new
management fees, which apply to the combined fund effective 5/1/00. The
table shows restated total expenses based on the new fees and the assets of
the fund as of 12/31/99, and not the assets of the combined fund. However,
if the table reflected both the new fees and the combined assets, the fund's
expenses after 5/1/00 would be estimated as: Management Fees 0.60%,
Distribution and Service Fees 0.25%, Other Expenses 0.14%, and Total Fund
Operating Expenses 0.99%.
<PAGE>
(11) On 2/8/00, shareholders approved a merger and reorganization that combined
the Developing Markets Securities Fund with the Templeton Developing Markets
Equity Fund, effective 5/1/00. The shareholders of that fund had approved
new management fees, which apply to the combined fund effective 5/1/00. The
table shows restated total expenses based on the new fees and the assets of
the fund as of 12/31/99, and not the assets of the combined fund. However,
if the table reflected both the new fees and the combined assets, the fund's
expenses after 5/1/00 would be estimated as: Management Fees 1.25%, Other
Expenses 0.29%, and Total Fund Operating Expenses 1.54%.
(12) On 2/8/00, a merger and reorganization was approved that combined the
Templeton Growth Securities Fund with a similar fund of Templeton Variable
Products Series Fund, effective 5/1/00. The table shows total expenses based
on the fund's assets as of 12/31/99, and not the assets of the combined
fund. However, if the table reflected combined assets, the fund's expenses
after 5/1/00 would be estimated as: Management Fees 0.80%, Distribution and
Service Fees 0.25%, Other Expenses 0.05%, and Total Fund Operating Expenses
1.10%.
(13) On 2/8/00, shareholders approved a merger and reorganization that combined
the Templeton International Securities Fund with the Templeton International
Equity Fund, effective 5/1/00. The shareholders of that fund had approved
new management fees, which apply to the combined fund effective 5/1/00. The
table shows restated total expenses based on the new fees and the assets of
the fund as of 12/31/99, and not the assets of the combined fund. However,
if the table reflected both the new fees and the combined assets, the fund's
expenses after 5/1/00 would be estimated as: Management Fees 0.65%,
Distribution and Service Fees 0.25%, Other Expenses 0.20%, and Total Fund
Operating Expenses 1.10%.
The following will be added to the end of the Example that assumes the Optional
Death Benefit is NOT selected:
EXAMPLE
<TABLE>
<CAPTION>
If you Surrender your Contract at the If you annuitize your Contract at the If you do not Surrender your
end of the applicable time period you end of the applicable time period you Contract, you would pay the
would pay the following expenses on would pay the following expenses on following expenses on a $1,000
a $1,000 investment, assuming a 5% a $1,000 investment, assuming a 5% investment, assuming a 5% annual
annual return on assets: annual return on assets: return on assets:
SUB-ACCOUNT 1 YEAR 3 YEARS 5 YEARS 10 YEARS 1 YEAR 3 YEARS 5 YEARS 10 YEARS 1 YEAR 3 YEARS 5 YEARS 10 YEARS
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
-----------------------------------------------------------------------------------------------------------------------------------
MFS Mid Cap
Growth Series $104 $165 N/A N/A $57 $84 N/A N/A $28 $85 N/A N/A
-----------------------------------------------------------------------------------------------------------------------------------
Franklin
Technology
Securities
Fund $107 $173 N/A N/A $60 $93 N/A N/A $31 $93 N/A N/A
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
The following will be added to the end of the Example that assumes the Optional
Death Benefit is selected:
EXAMPLE
<TABLE>
<CAPTION>
If you Surrender your Contract at the If you annuitize your Contract at the If you do not Surrender your
end of the applicable time period you end of the applicable time period you Contract, you would pay the
would pay the following expenses on would pay the following expenses on following expenses on a $1,000
a $1,000 investment, assuming a 5% a $1,000 investment, assuming a 5% investment, assuming a 5% annual
annual return on assets: annual return on assets: return on assets:
SUB-ACCOUNT 1 YEAR 3 YEARS 5 YEARS 10 YEARS 1 YEAR 3 YEARS 5 YEARS 10 YEARS 1 YEAR 3 YEARS 5 YEARS 10 YEARS
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
-----------------------------------------------------------------------------------------------------------------------------------
MFS Mid Cap
Growth Series $105 $169 N/A N/A $59 $89 N/A N/A $29 $89 N/A N/A
-----------------------------------------------------------------------------------------------------------------------------------
Franklin
Technology
Securities
Fund $108 $178 N/A N/A $61 $97 N/A N/A $32 $98 N/A N/A
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
THE FOLLOWING IS ADDED TO THE "THE FUNDS" SECTION:
MFS-Registered Trademark- Mid Cap Growth Series-SM- is a series of the
MFS-Registered Trademark- Variable Insurance Trust-SM-.
MFS-Registered Trademark- Investment Management serves as the investment
manager.
Franklin Technology Securities Fund is a series of the Franklin Templeton
Variable Insurance Products Trust. Franklin Advisers, Inc. serves as the
investment manager.
The following are the investment goals:
MFS-REGISTERED TRADEMARK- MID CAP GROWTH SERIES-SM- -- Seeks long-term growth of
capital.
FRANKLIN TECHNOLOGY SECURITIES FUND -- Seeks capital appreciation.
HV-2684
333-91927
