HARTFORD LIFE INS CO PUTNAM CAPITAL MGR TR SEPARATE ACCT TWO
485BPOS, 2000-01-25
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<PAGE>

   As filed with the Securities and Exchange Commission on January 25, 2000.
                                                              File No. 333-66939
                                                                       811-06285
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D. C. 20549

                                    FORM N-4

REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933

         Pre-Effective Amendment No.                    [ ]
         Post-Effective Amendment No. 4                 [X]

REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940

         Amendment No.  47                              [X]
                      ------

                         HARTFORD LIFE INSURANCE COMPANY
                  PUTNAM CAPITAL MANAGER TRUST SEPARATE ACCOUNT
                           (Exact Name of Registrant)

                         HARTFORD LIFE INSURANCE COMPANY
                               (Name of Depositor)

                                 P. O. BOX 2999
                             HARTFORD, CT 06104-2999
                   (Address of Depositor's Principal Offices)

                                 (860) 843-6733
               (Depositor's Telephone Number, Including Area Code)

                           Marta A. Czekajewski, Esq.
                                  HARTFORD LIFE
                                 P. O. BOX 2999
                             HARTFORD, CT 06104-2999
                     (Name and Address of Agent for Service)

It is proposed that this filing will become effective:

    _____ immediately upon filing pursuant to paragraph (b) of Rule 485
    __X__ on January 31, 2000 pursuant to paragraph (b) of Rule 485
    _____ 60 days after filing pursuant to paragraph (a)(1) of Rule 485
    _____ on __________, 2000 pursuant to paragraph (a)(1) of Rule 485
    _____ this post-effective amendment designates a new effective date for a
          previously filed post-effective amendment.

PURSUANT TO RULE 24F-2(A)(1) UNDER THE INVESTMENT COMPANY ACT OF 1940, THE
REGISTRANT HAS REGISTERED AN INDEFINITE AMOUNT OF SECURITIES.

<PAGE>

                              CROSS REFERENCE SHEET
                             PURSUANT TO RULE 495(A)

<TABLE>
<CAPTION>
                      N-4 Item No.                                Prospectus Heading
                --------------------------------------------------------------------
                <S>                                               <C>
                1.    Cover Page                                  Hartford Life Insurance Company -
                                                                  Putnam Capital Manager Trust
                                                                  Separate Account

                2.    Definitions                                 Glossary of Special Terms

                3.    Synopsis or Highlights                      Summary

                4.    Condensed Financial                         Yield Information
                      Information

                5.    General Description of                      Hartford Life Insurance Company,
                      Registrant                                  The Separate Account, The Fixed
                                                                  Accounts, and The Funds

                6.    Deductions                                  Contract Charges

                7.    General Description of                      The Contract, The Separate
                      Annuity Contracts                           Account, The Fixed Accounts, and
                                   Surrenders

                8.    Annuity Period                              Settlement Provisions

                9.    Death Benefit                               Death Benefits

                10.   Purchases and Contract Value                The Contract, and
                                                                  Contract Value

                11.   Redemptions                                 Surrenders

                12.   Taxes                                       Federal Tax Considerations

                13.   Legal Proceedings                           Legal Matters and Experts

                14.   Table of Contents of the                    Table of Contents to
                      Statement of Additional                     Statement of Additional
                      Information                                 Information

                15.   Cover Page                                  Part B; Statement of Additional
                                                                  Information
</TABLE>

<PAGE>

<TABLE>
                <S>                                               <C>
                16.   Table of Contents                           Table of Contents

                17.   General Information and History             Summary

                18.   Services                                    None

                19.   Purchase of Securities                      Distribution of Contracts
                      being Offered

                20.   Underwriters                                Distribution of Contracts

                21.   Calculation of Performance Data             Calculation of Yield and Return

                22.   Annuity Payments                            Settlement Provisions

                23.   Financial Statements                        Financial Statements

                24.   Financial Statements and                    Financial Statements and
                      Exhibits                                    Exhibits

                25.   Directors and Officers of the               Directors and Officers of the
                      Depositor                                   Depositor

                26.   Persons Controlled by or Under              Persons Controlled by or Under
                      Common Control with the                     Common Control with the
                      Depositor or Registrant                     Depositor or Registrant

                27.   Number of Contract Owners                   Number of Contract Owners

                28.   Indemnification                             Indemnification

                29.   Principal Underwriters                      Principal Underwriters

                30.   Location of Accounts and                    Location of Accounts and Records   Records

                31.   Management Services                         Management Services

                32.   Undertakings                                Undertakings
</TABLE>

<PAGE>

                                  PARTS A AND B
The Prospectus and Statement of Additional Information are incorporated in
Parts A and B, respectively, of this Post-Effective Amendment No. 4, by
reference to Post-Effective Amendment No. 3 to the Registration Statement on
Form N-4 (File No. 333-66939), as filed on September 23, 1999 and declared
effective on October 1, 1999.

A Supplement to the Prospectus, dated January 31, 2000 is included in Part A
of this Post-Effective Amendment.

<PAGE>

                       PUTNAM HARTFORD CAPITAL MANAGER - A
                                VARIABLE ANNUITY
                         HARTFORD LIFE INSURANCE COMPANY

    SUPPLEMENT DATED JANUARY 31, 2000 TO THE PROSPECTUS DATED OCTOBER 1, 1999

The following Sub-Accounts and underlying Funds will be added in alphabetical
order to the cover page of the prospectus:

- -    PUTNAM AMERICAN GOVERNMENT INCOME SUB-ACCOUNT which purchases Class IA
     shares of the Putnam VT American Government Income Fund of Putnam Variable
     Trust

- -    PUTNAM GROWTH OPPORTUNITIES SUB-ACCOUNT which purchases Class IA shares of
     the Putnam VT Growth Opportunities Fund of Putnam Variable Trust

The following will be the Annual Fund Operating Expenses table along with
corresponding footnotes:


                         ANNUAL FUND OPERATING EXPENSES
                     (As a percentage of average net assets)

<TABLE>
<CAPTION>
- ----------------------------------------------------------- ---------------- ------------- ----------------
                                                                                             TOTAL FUND
                                                              MANAGEMENT                      OPERATING
                                                            FEES INCLUDING                    EXPENSES
                                                                WAIVERS         OTHER         INCLUDING
                                                                               EXPENSES        WAIVERS
- ----------------------------------------------------------- ---------------- ------------- ----------------
<S>                                                         <C>              <C>           <C>
Putnam VT American Government Income Fund (1)                    0.41%          0.49%           0.90%
- ----------------------------------------------------------- ---------------- ------------- ----------------
Putnam VT Asia Pacific Growth Fund                               0.80%          0.32%           1.12%
- ----------------------------------------------------------- ---------------- ------------- ----------------
Putnam VT Diversified Income Fund                                0.67%          0.11%           0.78%
- ----------------------------------------------------------- ---------------- ------------- ----------------
Putnam VT Global Asset Allocation Fund                           0.65%          0.13%           0.78%
- ----------------------------------------------------------- ---------------- ------------- ----------------
Putnam VT Global Growth Fund                                     0.60%          0.12%           0.72%
- ----------------------------------------------------------- ---------------- ------------- ----------------
Putnam VT Growth and Income Fund                                 0.46%          0.04%           0.50%
- ----------------------------------------------------------- ---------------- ------------- ----------------
Putnam VT Growth Opportunities Fund                              0.70%          0.20%           0.90%
- ----------------------------------------------------------- ---------------- ------------- ----------------
Putnam VT Health Sciences Fund (1)(2)                            0.56%          0.34%           0.90%
- ----------------------------------------------------------- ---------------- ------------- ----------------
Putnam VT High Yield Fund                                        0.64%          0.07%           0.71%
- ----------------------------------------------------------- ---------------- ------------- ----------------
Putnam VT Income Fund                                            0.60%          0.07%           0.67%
- ----------------------------------------------------------- ---------------- ------------- ----------------
Putnam VT International Growth Fund                              0.80%          0.27%           1.07%
- ----------------------------------------------------------- ---------------- ------------- ----------------
Putnam VT International Growth and Income Fund                   0.80%          0.19%           0.99%
- ----------------------------------------------------------- ---------------- ------------- ----------------
Putnam VT International New Opportunities Fund (1)               0.92%          0.68%           1.60%
- ----------------------------------------------------------- ---------------- ------------- ----------------
Putnam VT Investors Fund (1)(2)                                  0.52%          0.33%           0.85%
- ----------------------------------------------------------- ---------------- ------------- ----------------
Putnam VT Money Market Fund                                      0.45%          0.08%           0.53%
- ----------------------------------------------------------- ---------------- ------------- ----------------
Putnam VT New Opportunities Fund                                 0.56%          0.05%           0.61%
- ----------------------------------------------------------- ---------------- ------------- ----------------
Putnam VT New Value Fund                                         0.70%          0.11%           0.81%
- ----------------------------------------------------------- ---------------- ------------- ----------------
Putnam VT OTC & Emerging Growth Fund (1)(2)                      0.56%          0.34%           0.90%
- ----------------------------------------------------------- ---------------- ------------- ----------------
Putnam VT Research Fund (1)(2)                                   0.37%          0.48%           0.85%
- ----------------------------------------------------------- ---------------- ------------- ----------------
Putnam VT Small Cap Value Fund (2)                               0.80%          0.59%           1.39%
- ----------------------------------------------------------- ---------------- ------------- ----------------
Putnam VT The George Putnam Fund of Boston (1)(2)                0.49%          0.36%           0.85%
- ----------------------------------------------------------- ---------------- ------------- ----------------
Putnam VT Utilities Growth and Income Fund                       0.65%          0.07%           0.72%
- ----------------------------------------------------------- ---------------- ------------- ----------------
Putnam VT Vista Fund                                             0.65%          0.12%           0.77%
- ----------------------------------------------------------- ---------------- ------------- ----------------
Putnam VT Voyager Fund                                           0.54%          0.04%           0.58%
- ----------------------------------------------------------- ---------------- ------------- ----------------
</TABLE>

<PAGE>

(1)  The Management Fees and Other Expenses shown in the table above reflect an
     expense limitation. In the absence of an expense limitation, Management
     Fees, Other Expenses, and Total Fund Operating Expenses would have been:

<TABLE>
<CAPTION>
- --------------------------------------------------- ----------------- ------------- ---------------
                                                                                      TOTAL FUND
                                                    MANAGEMENT FEES                   OPERATING
                                                       INCLUDING                       EXPENSES
                                                        WAIVERS          OTHER        INCLUDING
                                                                        EXPENSES       WAIVERS
- --------------------------------------------------- ----------------- ------------- ---------------
<S>                                                 <C>               <C>           <C>
Putnam VT American Government Income Fund                0.65%           0.49%          1.14%
- --------------------------------------------------- ----------------- ------------- ---------------
Putnam VT Health Sciences Fund                           0.70%           0.34%          1.04%
- --------------------------------------------------- ----------------- ------------- ---------------
Putnam VT International New Opportunities Fund           1.20%           0.68%          1.62%
- --------------------------------------------------- ----------------- ------------- ---------------
Putnam VT Investors Fund                                 0.65%           0.33%          0.98%
- --------------------------------------------------- ----------------- ------------- ---------------
Putnam VT OTC & Emerging Growth Fund                     0.70%           0.34%          1.04%
- --------------------------------------------------- ----------------- ------------- ---------------
Putnam VT Research Fund                                  0.65%           0.48%          1.13%
- --------------------------------------------------- ----------------- ------------- ---------------
Putnam VT The George Putnam Fund of Boston               0.65%           0.36%          1.01%
- --------------------------------------------------- ----------------- ------------- ---------------
</TABLE>

(2)  Based on estimated expenses for the first fiscal year.

The following will be added to the end of the Example that illustrates
situations where the Optional Death Benefit Rider 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 a  would pay the following expenses on a  following expenses on a $1,000
                   $1,000 investment, assuming a 5%       $1,000 investment, assuming a 5%       investment, assuming a 5%
                       annual return on assets:               annual return on assets:             annual 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>
Putnam American
Government Income  $76     $120      N/A      N/A       $76     $120      N/A      N/A         $76     $120      N/A      N/A
- -----------------------------------------------------------------------------------------------------------------------------------
Putnam Growth
 Opportunities     $76     $120      N/A      N/A       $76     $120      N/A      N/A         $76     $120      N/A      N/A
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

The following will be added to the end of the Example that illustrates
situations where the Optional Death Benefit Rider 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 a  would pay the following expenses on a  following expenses on a $1,000
                   $1,000 investment, assuming a 5%       $1,000 investment, assuming a 5%       investment, assuming a 5%
                       annual return on assets:               annual return on assets:             annual 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>
Putnam American
Government Income  $75     $116      N/A      N/A       $74     $115      N/A      N/A         $75     $116      N/A      N/A
- -----------------------------------------------------------------------------------------------------------------------------------
Putnam Growth
 Opportunities     $75     $116      N/A      N/A       $74     $115      N/A      N/A         $75     $116      N/A      N/A
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

The following will be added to the "General Contract Information" section,
under "The Funds" in alphabetical order:

PUTNAM VT AMERICAN GOVERNMENT INCOME FUND - Seeks high current income with
preservation of capital as its secondary objective.

PUTNAM VT GROWTH OPPORTUNITIES FUND - Seeks capital appreciation.

<PAGE>






                                     PART C

<PAGE>

                                OTHER INFORMATION

Item 24.  Financial Statements and Exhibits

     (a)  All financial statements are included in Part A and Part B of the
          Registration Statement.

     (b)  (1)  Resolution of the Board of Directors of Hartford Life Insurance
               Company ("Hartford") authorizing the establishment of the
               Separate Account.(1)

          (2)  Not applicable.

          (3)  (a) Principal Underwriter Agreement.(2)

          (3)  (b) Form of Dealer Agreement.(2)

          (4)  Form of Individual Flexible Premium Variable Annuity Contract.(1)

          (5)  Form of Application.(1)

          (6)  (a) Certificate of Incorporation of Hartford.(3)

          (6)  (b) Bylaws of Hartford.(1)

          (7)  Not applicable.

          (8)  Not applicable.

          (9)  Opinion and Consent of Lynda Godkin, Senior Vice President,
               General Counsel and Corporate Secretary.

          (10) Consent of Arthur Andersen LLP, Independent Public Accountants.

          (11) No financial statements are omitted.

          (12) Not applicable.

- -------------------------------------------------

        (1)    Incorporated by reference to Post-Effective Amendment No. 2, to
               the Registration Statement File No. 33-73570, dated May 1, 1995.

        (2)    Incorporated by reference to Post Effective Amendment No. 3, to
               the Registration Statement File No. 33-73570, dated April 29,
               1996.

        (3)    Incorporated by reference to Post Effective Amendment No. 19, to
               the Registration Statement File No. 33-73570, filed on April 14,
               1997.

<PAGE>

          (13) Not applicable.

          (14) Not applicable.

          (15) Copy of Power of Attorney.

          (16) Organizational Chart.

Item 25.     Directors and Officers of the Depositor

<TABLE>
<CAPTION>
- -------------------------------------------- -------------------------------------------------------------------------
NAME                                         POSITION WITH HARTFORD
- -------------------------------------------- -------------------------------------------------------------------------
<S>                                          <C>
Wendell J. Bossen                            Vice President
- -------------------------------------------- -------------------------------------------------------------------------
Gregory A. Boyko                             Senior Vice President, Director*
- -------------------------------------------- -------------------------------------------------------------------------
Peter W. Cummins                             Senior Vice President
- -------------------------------------------- -------------------------------------------------------------------------
Timothy M. Fitch                             Vice President
- -------------------------------------------- -------------------------------------------------------------------------
Mary Jane B. Fortin                          Vice President & Chief Accounting Officer
- -------------------------------------------- -------------------------------------------------------------------------
David T. Foy                                 Senior Vice President & Treasurer
- -------------------------------------------- -------------------------------------------------------------------------
Lynda Godkin                                 Senior Vice President, General Counsel and Corporate Secretary,
                                             Director*
- -------------------------------------------- -------------------------------------------------------------------------
Lois W. Grady                                Senior Vice President
- -------------------------------------------- -------------------------------------------------------------------------
Stephen T. Joyce                             Vice President
- -------------------------------------------- -------------------------------------------------------------------------
Michael D. Keeler                            Vice President
- -------------------------------------------- -------------------------------------------------------------------------
Robert A. Kerzner                            Senior Vice President
- -------------------------------------------- -------------------------------------------------------------------------
Thomas M. Marra                              Executive Vice President, Director*
- -------------------------------------------- -------------------------------------------------------------------------
Joseph J. Noto                               Vice President
- -------------------------------------------- -------------------------------------------------------------------------
Craig R. Raymond                             Senior Vice President and Chief Actuary
- -------------------------------------------- -------------------------------------------------------------------------
Donald A. Salama                             Vice President
- -------------------------------------------- -------------------------------------------------------------------------
Lowndes A. Smith                             President and Chief Executive Officer, Director*
- -------------------------------------------- -------------------------------------------------------------------------
David M. Znamierowski                        Senior Vice President, Director*
- -------------------------------------------- -------------------------------------------------------------------------
</TABLE>

Unless otherwise indicated, the principal business address of each of the
above individuals is P.O. Box 2999, Hartford, CT 06104-2999.

*Denotes Board of Directors.

<PAGE>

Item 26. Persons Controlled By or Under Common Control with the Depositor or
         Registrant

         Filed herewith as Exhibit 16.

Item 27. Number of Contract Owners

         As of November 30, 1999 there were 157,640 Contract Owners.

Item 28. Indemnification

         Under Section 33-772 of the Connecticut General Statutes, unless
         limited by its certificate of incorporation, the Registrant must
         indemnify a director who was wholly successful, on the merits or
         otherwise, in the defense of any proceeding to which he was a party
         because he is or was a director of the corporation against reasonable
         expenses incurred by him in connection with the proceeding.

         The Registrant may indemnify an individual made a party to a
         proceeding because he is or was a director against liability incurred
         in the proceeding if he acted in good faith and in a manner he
         reasonably believed to be in or not opposed to the best interests of
         the Registrant, and, with respect to any criminal proceeding, had no
         reason to believe his conduct was unlawful. Conn. Gen. Stat.
         33-771(a). Additionally, pursuant to Conn. Gen. Stat. 33-776, the
         Registrant may indemnify officers and employees or agents for
         liability incurred and for any expenses to which they becomes subject
         by reason of being or having been employees or officers of the
         Registrant. Connecticut law does not prescribe standards for the
         indemnification of officers, employees and agents and expressly states
         that their indemnification may be broader than the right of
         indemnification granted to directors.

         The foregoing statements are specifically made subject to the detailed
         provisions of Section 33-770 et seq.

         Notwithstanding the fact that Connecticut law obligates the Registrant
         to indemnify a only a director that was successful on the merits in a
         suit, under Article III, Section 1 of the Registrant's bylaws, the
         Registrant must indemnify both directors and officers of the
         Registrant for (1) any claims and liabilities to which they become
         subject by reason of being or having been a directors or officers of
         the company and legal and (2) other expenses incurred in defending
         against such claims, in each case, to the extent such is consistent
         with statutory provisions.

         Additionally, the directors and officers of Hartford and Hartford
         Securities Distribution Company, Inc. ("HSD") are covered under a
         directors and officers liability insurance policy issued to The
         Hartford Financial Services Group, Inc. and its subsidiaries. Such
         policy will reimburse the Registrant for any

<PAGE>

         payments that it shall make to directors and officers pursuant to law
         and will, subject to certain exclusions contained in the policy,
         further pay any other costs, charges and expenses and settlements and
         judgments arising from any proceeding involving any director or
         officer of the Registrant in his past or present capacity as such, and
         for which he may be liable, except as to any liabilities arising from
         acts that are deemed to be uninsurable.

         Insofar as indemnification for liabilities arising under the
         Securities Act of 1933 may be permitted to directors, officers and
         controlling persons of the Registrant pursuant to the foregoing
         provisions, or otherwise, the Registrant has been advised that in the
         opinion of the Securities and Exchange Commission such indemnification
         is against public policy as expressed in the Act and is, therefore,
         unenforceable. In the event that a claim for indemnification against
         such liabilities (other than the payment by the Registrant of expenses
         incurred or paid by a director, officer or controlling person of the
         Registrant in the successful defense of any action, suit or
         proceeding) is asserted by such director, officer or controlling
         person in connection with the securities being registered, the
         Registrant will, unless in the opinion of its counsel the matter has
         been settled by controlling precedent, submit to a court of
         appropriate jurisdiction the question whether such indemnification by
         it is against public policy as expressed in the Act and will be
         governed by the final adjudication of such issue.

Item 29. Principal Underwriters

         (a)      HSD acts as principal underwriter for the following
                  investment companies:

                  Hartford Life Insurance Company - Separate Account One
                  Hartford Life Insurance Company - Separate Account Two
                  Hartford Life Insurance Company - Separate Account Two (DC
                  Variable Account I)
                  Hartford Life Insurance Company - Separate Account Two (DC
                  Variable Account II)
                  Hartford Life Insurance Company - Separate Account Two (QP
                  Variable Account)
                  Hartford Life Insurance Company - Separate Account Two
                  (Variable Account "A")
                  Hartford Life Insurance Company - Separate Account Two (NQ
                  Variable Account)
                  Hartford Life Insurance Company - Putnam Capital Manager
                  Trust Separate Account
                  Hartford Life Insurance Company - Separate Account Three
                  Hartford Life Insurance Company - Separate Account Five
                  Hartford Life Insurance Company -Separate Account Seven
                  Hartford Life and Annuity Insurance Company - Separate Account
                  One

<PAGE>

                  Hartford Life and Annuity Insurance Company - Putnam
                  Capital Manager Trust Separate Account Two
                  Hartford Life and Annuity Insurance Company - Separate Account
                  Three
                  Hartford Life and Annuity Insurance Company - Separate Account
                  Five
                  Hartford Life and Annuity Insurance Company - Separate Account
                  Six
                  Alpine Life Insurance Company - Separate Account One
                  Alpine Life Insurance Company - Separate Account Two
                  American Maturity Life Insurance Company - Separate Account
                  AMLVA
                  Royal Life Insurance Company - Separate Account One
                  Royal Life Insurance Company - Separate Account Two

             (b)  Directors and Officers of HSD

<TABLE>
<CAPTION>
                  Name and Principal                Positions and Offices
                  Business Address                   With Underwriter
                  ------------------                ---------------------
                  <S>                          <C>
                  Lowndes A. Smith             President and Chief Executive Officer, Director
                  Thomas M. Marra              Executive Vice President, Director
                  Peter W. Cummins             Senior Vice President
                  Lynda Godkin                 Senior Vice President, General Counsel and
                                               Corporate Secretary
                  David T. Foy                 Treasurer
                  George R. Jay                Controller
</TABLE>

                  Unless otherwise indicated, the principal business address of
                  each the above individuals is P.O. Box 2999, Hartford, CT
                  06104-2999.

Item 30. Location of Accounts and Records

         All of the accounts, books, records or other documents required to be
         kept by Section 31(a) of the Investment Company Act of 1940 and rules
         thereunder, are maintained by Hartford at 200 Hopmeadow Street,
         Simsbury, Connecticut 06089.

Item 31. Management Services

         All management contracts are discussed in Part A and Part B of this
         Registration Statement.

Item 32. Undertakings

         (a) The Registrant hereby undertakes to file a post-effective
             amendment to this Registration Statement as frequently as is
             necessary to ensure that the audited financial statements in
             the Registration Statement are never more than 16 months old
             so long as payments under the variable annuity Contracts

<PAGE>

             may be accepted.

         (b) The Registrant hereby undertakes to include either (1) as part of
             any application to purchase a Contract offered by the Prospectus,
             a space that an applicant can check to request a Statement of
             Additional Information, or (2) a post card or similar written
             communication affixed to or included in the Prospectus that the
             applicant can remove to send for a Statement of Additional
             Information.

         (c) The Registrant hereby undertakes to deliver any Statement of
             Additional Information and any financial statements required to
             be made available under this Form promptly upon written or oral
             request.

         (d) Hartford hereby represents that the aggregate fees and charges
             under the Contract are reasonable in relation to the services
             rendered, the expenses expected to be incurred, and the risks
             assumed by Hartford.

             The Registrant is relying on the no-action letter issued by the
             Division of Investment Management to American Counsel of Life
             Insurance, Ref. No. IP-6-88, November 28, 1988. The Registrant
             has complied with conditions one through four of the no-action
             letter.


<PAGE>


                                   SIGNATURES
                                   ----------

As required by the Securities Act of 1933 and the Investment Company Act of
1940, the Registrant certifies that it meets all the requirements for
effectiveness of this Registration Statement pursuant to Rule 495(b) under the
Securities Act of 1933 and duly has caused this Registration Statement to be
signed on its behalf, in the Town of Simsbury, and State of Connecticut on this
25th day of January, 2000.

HARTFORD LIFE INSURANCECOMPANY -
PUTNAM CAPITAL MANAGER TRUST SEPARATE ACCOUNT (Registrant)


*By: /s/ Thomas M. Marra                    *By:    /s/ Marta A. Czekajewski
     -------------------------------------       ----------------------------
     Thomas M. Marra, Senior Vice President         Marta A. Czekajewski
                                                    Attorney-in-Fact
HARTFORD LIFE INSURANCE COMPANY
      (Depositor)

*By:  /s/  Thomas M. Marra
      ------------------------------------
      Thomas M. Marra, Senior Vice President

Pursuant to the requirements of the Securities Act of 1933, as amended, this
Registration Statement has been signed below by the following persons and in the
capacity and on the date indicated.

Gregory A. Boyko, Senior Vice President,
        Director *                              *By:   /s/ Marta A. Czekajewski
Lynda Godkin, Senior Vice President, General           ------------------------
    Counsel and Corporate Secretary, Director*         Marta A. Czekajewski
Thomas M. Marra, Executive Vice                        Attorney-in-Fact
    President, Director *
Lowndes A. Smith, President and                        Dated: January 25, 2000
   Chief Executive Officer, Director*
David M. Znamierowski, Senior Vice President,
     Director*

<PAGE>

                                  EXHIBIT INDEX


 (9)      Opinion and Consent of Lynda Godkin, Senior Vice President, General
          Counsel and Corporate Secretary.

(10)      Consent of Arthur Andersen LLP, Independent Public Accountants.

(15)      Copy of Power of Attorney.

(16)      Organizational Chart.


<PAGE>




January 25, 2000                           LYNDA GODKIN
                                           SENIOR VICE PRESIDENT
                                           GENERAL COUNSEL & CORPORATE SECRETARY
                                           LAW DEPARTMENT

Board of Directors
Hartford Life Insurance Company
200 Hopmeadow Street
Simsbury, CT  06089

RE:    PUTNAM CAPITAL MANAGER TRUST SEPARATE ACCOUNT
       HARTFORD LIFE INSURANCE COMPANY
       File No.  333-66939

Dear Sir/Madam:

I have acted as General Counsel to Hartford Life Insurance Company (the
"Company"), a Connecticut insurance company, and Putnam Capital Manager Trust
Separate Account (the "Account") in Connecticut with the registration of an
indefinite amount of securities in the form of variable annuity contracts
(the "Contracts") with the Securities and Exchange Commission under the
Securities Act of 1933, as amended. I have examined such documents (including
the Form N-4 registration statement) and reviewed such questions of law as I
considered necessary and appropriate, and on the basis of such examination
and review, it is my opinion that:

1.     The Company is a corporation duly organized and validly existing as a
       stock life insurance company under the laws of the State of Connecticut
       and is duly authorized by the Insurance Department of the State of
       Connecticut to issue the Contracts.

2.     The Account is a duly authorized and existing separate account
       established pursuant to the provisions of Section 38a-433 of the
       Connecticut Statutes.

3.     To the extent so provided under the Contracts, that portion of the assets
       of the Account equal to the reserves and other contract liabilities with
       respect to the Account will not be chargeable with liabilities arising
       out of any other business that the Company may conduct.

4.     The Contracts, when issued as contemplated by the Form N-4 Registration
       Statement, will constitute legal, validly issued and binding obligations
       of the Company.

I hereby consent to the filing of this opinion as an exhibit to the Form N-4
registration statement for the Contracts and the Account.

Sincerely yours,

/s/ Lynda Godkin

Lynda Godkin


<PAGE>





                               ARTHUR ANDERSEN LLP

                    CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS
                    -----------------------------------------

As independent public accountants, we hereby consent to the use of our
reports (and to all references to our Firm) included in or made a part of
this Registration Statement File No. 333-66939 for Hartford Life Insurance
Company Putnam Capital Manager Trust Separate Account on Form N-4.


Hartford, Connecticut                                /s/ Arthur Andersen LLP
January 25, 2000


<PAGE>

                        HARTFORD LIFE INSURANCE COMPANY

                               POWER OF ATTORNEY
                               -----------------

                               Gregory A. Boyko
                                 David T. Foy
                                 Lynda Godkin
                                Thomas M. Marra
                                Lowndes A. Smith
                              Raymond P. Welnicki
                              Lizabeth H. Zlatkus
                             David M. Znamierowski


do hereby jointly and severally authorize Lynda Godkin, Christine Repasy,
Marianne O'Doherty, Thomas S. Clark and Brian Lord to sign as their agent,
any Registration Statement, pre-effective amendment, post-effective amendment
and any application for exemptive relief of the Hartford Life Insurance
Company under the Securities Act of 1933 and/or the Investment Company Act of
1940, and do hereby ratify any such signatures heretofore made by such
persons.

IN WITNESS WHEREOF, the undersigned have executed this Power of Attorney for
the purpose herein set forth.

/s/ Gregory A. Boyko                    Dated as of January 15, 1999
- ------------------------------
Gregory A. Boyko

/s/ David T. Foy                        Dated as of January 15, 1999
- ------------------------------
David T. Foy

/s/ Lynda Godkin                        Dated as of January 15, 1999
- ------------------------------
Lynda Godkin

/s/ Thomas M. Marra                     Dated as of January 15, 1999
- ------------------------------
Thomas M. Marra

/s/ Lowndes A. Smith                    Dated as of January 15, 1999
- ------------------------------
Lowndes A. Smith

/s/ Raymond P. Welnicki                 Dated as of January 15, 1999
- ------------------------------
Raymond P. Welnicki

/s/ Lizabeth H. Zlatkus                 Dated as of January 15, 1999
- ------------------------------
Lizabeth H. Zlatkus

/s/ David M. Znamierowski               Dated as of January 15, 1999
- ------------------------------
David M. Znamierowski


<PAGE>


                                                     ORGANIZATIONAL CHART


<TABLE>
<CAPTION>

<S>                                                                                        <C>

                                           THE HARTFORD FINANCIAL SERVICES GROUP, INC.
                                                           (DELAWARE)
                                                                |
                                                                ---------------------------------------------
                                                     NUTMEG INSURANCE COMPANY                               |
                                                           (CONNECTICUT)                         THE HARTFORD INVESTMENT
                                                                |                                   MANAGEMENT COMPANY
                                                 HARTFORD FIRE INSURANCE COMPANY                         (DELAWARE)
                                                           (CONNECTICUT)                                    |
                                                                |                                           |
                                            HARTFORD ACCIDENT AND INDEMNITY COMPANY                HARTFORD INVESTMENT
                                                           (CONNECTICUT)                              SERVICES, INC.
                                                                |                                      (CONNECTICUT)
                                                       HARTFORD LIFE, INC.
                                                           (DELAWARE)
                                                                |
                                           HARTFORD LIFE & ACCIDENT INSURANCE COMPANY
                                                           (CONNECTICUT)
                                                                |
                                                                |
                                                                |
        -------------------------------------------------------------------------------------------------------------------------
        |          |       |              |                   |                |               |             |             |
  HARTFORD LIFE    |       |              |                   |                |               |           HLIC         PLANCO
INTERNATIONAL LTD. |       |              |                   |                |               |          CANADA       FINANCIAL
  (CONNECTICUT)    |       |              |                   |                |               |      HOLDINGS, INC.   SERVICES,
        |          |       |              |                   |                |               |        (CANADA)     INCORPORATED
        |          |       |              |                   |                |               |             |     (PENNSYLVANIA)
        |          |       |              |                   |                |               |             |             |
        |          |  ALPINE LIFE  HARTFORD FINANCIAL   HARTFORD LIFE       HARTFORD        AMERICAN         |             |
        |          |   INSURANCE     SERVICES LIFE    INSURANCE COMPANY    FINANCIAL      MATURITY LIFE      |             |
        |          |    COMPANY      INSURANCE CO.      (CONNECTICUT)    SERVICES, LLC  INSURANCE COMPANY    |             |
        |          | (CONNECTICUT)   (CONNECTICUT)            |           (DELAWARE)      (CONNECTICUT)      |      PLANCO, INC.
        |          |                                          |                |               |             |     (PENNSYLVANIA)
        |          |      -------------------------------------                |       AML FINANCIAL, INC.   |
  HARTFORD CALMA   |      |                 |                 |                |         (CONNECTICUT)       |
    COMPANY        | ROYAL LIFE          HARTFORD          HARTFORD            |                         HARTFORD
   (FLORIDA)       | INSURANCE         INTERNATIONAL       LIFE AND            |                       LIFE INSURANCE
                   |  COMPANY        LIFE REASSURANCE   ANNUITY INSURANCE      |                         COMPANY
                   | OF AMERICA            CORP.           COMPANY             |                         OF CANADA
                   |(CONNECTICUT)      (CONNECTICUT)     (CONNECTICUT)         |                          (CANADA)
                   |                                          |                |
                   |                                          |                |
                   |                                     ITT HARTFORD          |
                   |                                      LIFE, LTD.           |
                   |                                      (BERMUDA)            |
                   |                                                           |
                   |                                                           |
         ----------|         ---------------------------------------------------------------------------------------------
         |                   |                     |                     |                  |                            |
   INTERNATIONAL           MS FUND          HL INVESTMENT           HARTFORD       HARTFORD SECURITIES        HARTFORD COMP. EMP.
     CORPORATE         AMERICA 1993-K       ADVISORS, LLC         EQUITY SALES        DISTRIBUTION              BENEFITS SERVICE
MARKETING GROUP, INC.     SPE, INC.         (CONNECTICUT)         COMPANY, INC.       COMPANY, INC.                  COMPANY
   (CONNECTICUT)         (DELAWARE)              |                (CONNECTICUT)       (CONNECTICUT)                (CONNECTICUT)
         |                                       |
         |                                       |
   THE EVERGREEN                         HARTFORD INVESTMENT
    GROUP, INC.                          FINANCIAL SERVICES
    (NEW YORK)                                 COMPANY
                                              (DELAWARE)
</TABLE>

<PAGE>
<TABLE>
<S>                                                                                        <C>

                                           THE HARTFORD FINANCIAL SERVICES GROUP, INC.
                                                           (DELAWARE)
                                                                |
                                                     NUTMEG INSURANCE COMPANY
                                                           (CONNECTICUT)
                                                                |
                                                 HARTFORD FIRE INSURANCE COMPANY
                                                           (CONNECTICUT)
                                                                |
     ----------------------------------------------------------------------------------------------------------------------------
     |           |                                              |
     |           |                                         HARTFORD LIFE
     |           |                                -------INTERNATIONAL LTD.
     |           |                                |       (CONNECTICUT)
     |           |                                |             |
     |           |                                |        ITT HARTFORD
     |           |                                |    ----SUDAMERICANA
     |           |                                |   |     HOLDING S.A.
     |           |                                |   |    (ARGENTINA)
     |           |                                |   |------------------------------------------------------
     |           |                                |   |                               |                      |
     |           |                                |   |        HARTFORD            GALICIA              INSTITUTO DE
     |           |                                |   |        SEGUROS          VIDA COMPANIA        SALTA COMPANIA DE
     |           |                                |   |--------DE VIDA         DE SEGUROS S.A.      SEGUROS DE VIDA S.A.
     |           |                                |   |       (URUGUAY)          (ARGENTINA)            (ARGENTINA)
     |           |                                |   |
     |           |             ICATU              |   |      ITT HARTFORD
     |           |            HARTFORD            |   |-----SEGUROS DE VIDA
     |           |          SEGUROS S.A.----------|   |       (ARGENTINA)
     |           |            (BRAZIL)            |   |
     |           |                |               |   |
     |           |                |               |   |      ITT HARTFORD
     |           |   -- ----------|               |   |------SEGUROS DE
     |           |   |            |               |   |       RETIRO S.A.
     |           |   |            |               |   |       (ARGENTINA)
     |-----------|----------------|---------------|---|--------------------------------------------------------------------------
     |           |   |            |               |   |
     |           |   |      ICATU HARTFORD        |   |  CONSULTORA DE CAPITALES
     |           |   |     FUNDO DE PENSAO        |   |   S.A. SOCIEDAD GERENTE
     |           |   |         (BRAZIL)           |   |----DE FONDOS COMUNES
     |           |   |            |               |   |      DE ENVERSION
     |           |   |            |               |   |       (ARGENTINA)
     |           |   |      ICATU HARTFORD        |   |
     |           |   |    CAPITALIZACAO S.A.      |   |          CLARIDAD
     |           |   |         (BRAZIL)           |   |     ADMINISTRADORA DE
     |           |   |            |               |   |---FONDOS DE JUBILACIONES
     |           |   |        BRAZILCAP           |   |      Y PENSIONES S.A.
     |           |   |     CAPITALIZACAO S.A.     |   |       (ARGENTINA)
     |           |   |         (BRAZIL)           |   |
     |           |   |                            |   |
     |           |    --------------------------  |   |
     |           |---------------              |  |   |
     |                          |              |  |   |
HARTFORD FIRE               HARTFORD FIRE      |  |   |------- SEGPOOL S.A.
INTERNATIONAL------------INTERNATIONAL, LTD.   |  |   |        (ARGENTINA)
(GERMANY) GMBH              (CONNECTICUT)      |  |   |
(WEST GERMANY)                                 |  |   |
                                               |  |   |
                           ICATU HARTFORD      |  |   |         THESIS S.A.
                            ADMINISTRACAO      |  |   |-------- (ARGENTINA)
                          DE BENEFICIOS LTDA-- |  |   |
                              (BRAZIL)            |   |
                                                  |   |
                                  -----------------   |
                                  |                   |
                                 CAB                  |--------- U.O.R., S.A.
                             CORPORATION                         (ARGENTINA)
                       (BRITISH VIRGIN ISLANDS)

</TABLE>
<PAGE>
<TABLE>
<S>                                                                                        <C>
                                           THE HARTFORD FINANCIAL SERVICES GROUP, INC.
                                                           (DELAWARE)
                                                                |
                                                     NUTMEG INSURANCE COMPANY
                                                           (CONNECTICUT)
                                                                |
                                                 HARTFORD FIRE INSURANCE COMPANY
                                                           (CONNECTICUT)
                                                                |
- --------------------------------------------------------------------------------------------------------------------------------|
                                                                                                      |                         |
                                                                                         THE HARTFORD INTERNATIONAL             |
                |-----------------------------------------------------------------------FINANCIAL SERVICES GROUP, INC.          |
                |                                 |                    |                          (DELAWARE)                    |
                |                                 |                    |         ----------------------|-----------------       |
                |                                 |                    |         |                     |         |       |      |
             ZWOLSCHE                             |                    |    ITT HARTFORD         LONDON AND      |   HARTFORD   |
          ALGEMEENE N.V.                          |                    | INTERNATIONAL, LTD.     EDINBURGH       | EUROPE, INC. |
          (NETHERLANDS)                           |                    |       (U.K.)       INSURANCE GROUP, LTD.|  (DELAWARE)  |
                |                                 |                    |                           (U.K.)        |              |
                |                                 |                    |                             |           |              |
                |                                 |                    |                -------------            |              |
                |                                 |                    |                |                        |              |
                |                           ITT ASSURANCES      HARTFORD INTERNATIONAL  |    LONDON AND          --ITT ERCOS    |
                |                              S.A.              INSURANCE CO., N.V.    |---  EDINBURGH           DE SEGUROS Y  |
                |    ZWOLSCHE ALGEMEENE      (FRANCE)                (BELGIUM)          | INSURANCE CO., LTD.    REASEGUROS S.A.|
                |----SCHADEVERZEKERING                                   |              |        (U.K.)             (SPAIN)     |
        --------|          N.V.-----------------------------------       |              |            |                          |
        |       |      (NETHERLANDS)                              |      |              |            |                          |
       Z.A.     |                                                 |      |              |   EXCESS INSURANCE                    |
- --VERZEKERINGEN |                                                 |      |              |     COMPANY LTD.                      |
|      N.V.     |      ZWOLSCHE ALGEMEENE                         |      |              |        (U.K.)                         |
|  (BELGIUM)    |------HERVERZEKERING B.V.                        |      |              |                                       |
|   |      -----|        (NETHERLANDS)                            |      |              |      LONDON AND                       |
|   |     |     |                                                 |      |              |--- EDINBURGH LIFE                     |
| Z.A. LUX S.A. |                                                 |      |              |  ASSURANCE CO., LTD.                  |
| (LUXEMBURG)   |    ZWOLSCHE ALGEMEENE                           |      |              |         (U.K.)                        |
|               |--LEVENS-VERZEKERING N.V.------------            |      |              |                                       |
|               |      (NETHERLANDS)                 |            |      |              |                                       |
- ----------------|------------------------------------|------------|------|--------------|---------------------------------------|
|               |                                    |            |      |              |                                       |
|       --------                                     |            |      |              |                                       |
|       |       |                                    |            |      |              |                                       |
|   ZWOLSCHE    |    ZWOLSCHE ALGEMEENE       ZWOLSCHE ALGEMEENE  |      |              |                                       |
|  ALGEMEENE    |-----HYPOTHEKEN N.V.        BELEGGINGEN III B.V. |      |              |                                       |
|  EUROPA B.V.  |      (NETHERLANDS)             (NETHERLANDS)    |      |              |                                       |
| (NETHERLANDS) |                                       ----------       |              |                                       |
- --------|       |                                       |                |              |                                       |
                |      EXPLOITATIEMAAT-          BELEGGINGSMAAT-         |              |                                       |
                |-----   SCHAPPIJ                 SCHAPPIJ               |              |                                       |
                |      BUIZERDLAAN B.V.          BUIZERDLAAN B.V.        |              |                                       |
                |        (NETHERLANDS)             (NETHERLANDS)         |              |                                       |
                |                                                        |              |                                       |
                |                                                        |              |                                  -----
                |          HOLLAND                                       |              |--------------------------        |
                |---- BELEGGINGSGROEP B.V.                               |              |                          |       |
                        (NETHERLANDS)                                    |              |-----------------         |       |
                                                                         |       -------|                 |        |       |
                                                                         |       |      |                 |        |       |
                                                                         |       |      |                 |        |       |
                                                                    F.A. KNIGHT  |  MACALISTER &    LONDON AND     | HARTFORD FIRE
                                                                     & SON N.V.  |  DUNDAS, LTD.     EDINBURGH     | INTERNATIONAL
                                                                     (BELGIUM)   |   (SCOTLAND)     TRUSTEES, LTD. |   SERVICIOS
                                                                                 |                    (U.K.)       |    (SPAIN)
                                                                                  -------------------------        -----------
                                                                                        |                 |                |
                                                                                    FENCOURT           QUOTEL        LONDON AND
                                                                                  PRINTERS, LTD.      INSURANCE       EDINBURGH
                                                                                     (U.K.)         SYSTEMS, LTD.  SERVICES, LTD.
                                                                                                       (U.K.)           (U.K.)
                                                                                                          |
                                                                                                      EUROSURE
                                                                                                      INSURANCE
                                                                                                    MARKETING, LTD.
                                                                                                        (U.K.)

</TABLE>


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