<PAGE>
THE DIRECTOR SELECT
SERIES I
SEPARATE ACCOUNT ONE
HARTFORD LIFE AND ANNUITY INSURANCE COMPANY
SUPPLEMENT DATED OCTOBER 2, 2000 TO THE PROSPECTUS DATED MAY 1, 2000
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In the section entitled "Definitions," the definition of "Commuted Value" is
deleted and replaced with the following:
COMMUTED VALUE: The present value of any remaining guaranteed Annuity Payouts.
This amount is calculated using the Assumed Investment Return for variable
dollar amount Annuity Payouts or the underlying rate of return for fixed dollar
amount Annuity Payouts.
In the "Highlights" section under the sub-section "Can I take out any of my
money?", the first paragraph is deleted and replaced with the following
language:
You may Surrender all or part of the amounts you have invested at any time
before we start making Annuity Payouts. Once Annuity Payouts begin, you may take
full or partial Surrenders under the Payments for a Designated Period, Life
Annuity with 120, 180 or 240 Monthly Payments Certain or the Joint and Last
Survivor Life Annuity Payout Options, but only if you selected the variable
dollar amount Annuity Payouts.
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- You may have to pay income tax on the money you take out and, if you
Surrender before you are age 59 1/2, you may have to pay an income tax
penalty.
- You may have to pay a Contingent Deferred Sales Charge on the money you
Surrender.
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In the "Highlights" section, under the sub-section entitled, "What Annuity
Payout Options are available?" the last paragraph is deleted and replaced with
the following language:
You must begin to take payments before the Annuitant's 90th birthday or the end
of the 10th Contract Year, whichever comes later, unless you elect a later date
to begin receiving payments subject to the laws and regulations then in effect
and our approval. If you do not tell us what Annuity Payout Option you want
before that time, we will pay you under the variable Life Annuity with 120, 180
or 240 Monthly Payments Certain Annuity Payout Option with period certain
payments for 120 months. Please consult your Registered Representative or call
us.
In the "General Contract Information" section, immediately under the table
entitled "Hartford's Ratings" the following paragraph is added:
These ratings apply to Hartford's ability to meet its obligations under the
Contract. The ratings do not apply to the Separate Account or the underlying
Funds.
In the "Surrenders" section, under the sub-section entitled "What kinds of
surrenders are available?", the paragraph entitled "Partial Surrenders after the
Annuity Commencement Date" is deleted and replaced with the following language:
PARTIAL SURRENDERS AFTER THE ANNUITY COMMENCEMENT DATE -- Partial Surrenders are
permitted after the Annuity Commencement Date if you select the Life Annuity
with 120, 180 or 240 Monthly Payments Certain or the Payments for a Designated
Period Annuity Payout Option. You may take partial Surrenders of amounts equal
to the Commuted Value of the payments that we would have made during the "Period
Certain" or the number of years you select under the Annuity Payout Option that
we guarantee to make Annuity Payouts.
To qualify for partial Surrenders under these Annuity Payout Options you must
elect a variable dollar amount Annuity Payout and you must make the Surrender
request during the Period Certain.
Hartford will deduct any applicable Contingent Deferred Sales Charges.
If you elect to take the entire Commuted Value of the Annuity Payouts we would
have made during the Period Certain, Hartford will not make any Annuity Payouts
during the remaining Period Certain. If you elect to take only some of the
Commuted Value of the Annuity Payouts we would have made during the Period
Certain, Hartford will reduce the remaining Annuity Payouts during the remaining
Period Certain. Annuity Payouts that are to be made after the Period Certain is
over will not change.
PLEASE CHECK WITH YOUR TAX ADVISER BECAUSE THERE COULD BE ADVERSE TAX
CONSEQUENCES FOR PARTIAL SURRENDERS AFTER THE ANNUITY COMMENCEMENT DATE.
In the "Annuity Payouts" section, under the sub-section entitled, "When do you
want Annuity Payouts to begin?", the third and fourth sentences of the first
paragraph are deleted and replaced with the following language:
The Annuity Commencement Date cannot be deferred beyond the Annuitant's 90th
birthday or the end of the 10th Contract Year, whichever is later unless you
elect a later date to begin receiving payments subject to the laws and
regulations then in effect and our
<PAGE>
approval. If this Contract is issued to the trustee of a Charitable Remainder
Trust, the Annuity Commencement Date may be deferred to the Annuitant's 100th
birthday.
In the "Annuity Payouts" section, under the subsection. "2. Which Annuity Payout
Option do you want to use?" under the subsection "Important Information", that
last two bulleted paragraphs are deleted and replaced with the following:
- For Non-Qualified Contracts, if you do not elect an Annuity Payout Option,
variable Annuity Payouts will automatically begin on the Annuity Commencement
Date under the Life Annuity with 120, 180 or 240 Monthly Payments Certain
Annuity Payout Option with period certain payouts for 120 months.
- For Qualified Contracts and Contracts issued in Texas, if you do not elect an
Annuity Payout Option, variable Annuity Payouts will begin automatically on
the Annuity Commencement Date, under the Life Annuity Payout Option.
In the "Other Programs Available" section, in the paragraph entitled "Automatic
Income" the first sentence is deleted and replaced with the following:
The Automatic Income Program allows you to Surrender up to 10% of your total
Premium Payments each Contract Year without a Contingent Deferred Sales Charge.
The "Accumulation Unit Value" table is deleted and replaced with the following:
ACCUMULATION UNIT VALUES
(For an Accumulation Unit outstanding throughout the period)
The following audited information from the financial statements of the Separate
Account has been audited by Arthur Andersen LLP, independent public accountants,
as indicated in their report with respect thereto, and should be read in
conjunction with those statements which are included in the Statement of
Additional Information, which is incorporated by reference in this Prospectus.
The unaudited information, which reflects the deduction for the Optional Death
Benefit, has been derived from the audited financial statements of the Separate
Account. No information is shown for Hartford Global Health HLS Fund Sub-Account
and Hartford Global Technology HLS Fund Sub-Account because, as of December 31,
1999, the Sub-Accounts had not yet commenced operations.
<TABLE>
<CAPTION>
YEAR ENDED DECEMBER 31,
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WITHOUT THE WITH THE OPTIONAL
OPTIONAL DEATH DEATH BENEFIT
BENEFIT (UNAUDITED)
1999 1999 1998 1997 1996 1995 1994 1993
<S> <C> <C> <C> <C> <C> <C> <C> <C>
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HARTFORD BOND HLS FUND SUB-ACCOUNT
(Inception date August 1, 1986)
Accumulation Unit Value at beginning
of period $2.258 $2.234 $2.114 $1.992 $1.880 $1.607 $1.694 $1.556
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Accumulation Unit Value at end of
period $2.185 $2.182 $2.258 $2.114 $1.922 $1.880 $1.607 $1.694
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Number Accumulation Units
outstanding at end of period (in
thousands) 197,575 1,185 180,120 107,759 76,247 48,354 33,950 23,803
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HARTFORD STOCK HLS FUND SUB-ACCOUNT
(Inception date August 1, 1986)
Accumulation Unit Value at beginning
of period $6.066 $6.716 $4.602 $3.547 $2.887 $2.180 $2.250 $1.993
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Accumulation Unit Value at end of
period $7.176 $7.169 $6.066 $4.602 $3.547 $2.887 $2.180 $2.250
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Number Accumulation Units
outstanding at end of period (in
thousands) 638,407 5,859 553,087 440,557 317,416 186,727 110,928 60,431
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HARTFORD MONEY MARKET HLS FUND SUB-
ACCOUNT (Inception date August 1,
1986)
Accumulation Unit Value at beginning
of period $1.716 $1.735 $1.650 $1.587 $1.528 $1.462 $1.424 $1.401
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Accumulation Unit Value at end of
period $1.777 $1.776 $1.716 $1.650 $1.587 $1.528 $1.462 $1.424
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Number Accumulation Units
outstanding at end of period (in
thousands) 270,072 917 195,489 120,947 110,350 66,468 30,871 14,881
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HARTFORD ADVISERS HLS FUND
SUB-ACCOUNT (Inception date
August 1, 1986)
Accumulation Unit Value at beginning
of period $4.398 $4.663 $3.572 $2.905 $2.523 $1.991 $2.072 $1.870
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Accumulation Unit Value at end of
period $4.803 $4.798 $4.398 $3.572 $2.905 $2.523 $1.991 $2.072
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Number Accumulation Units
outstanding at end of period (in
thousands) 1,425,393 7,318 1,258,365 999,829 784,326 645,105 414,318 244,980
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HARTFORD CAPITAL APPRECIATION HLS
FUND SUB-ACCOUNT (Inception date
August 1, 1986)
Accumulation Unit Value at beginning
of period $5.526 $6.255 $4.845 $4.010 $3.364 $2.615 $2.583 $2.165
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Accumulation Unit Value at end of
period $7.501 $7.494 $5.526 $4.845 $4.010 $3.364 $2.615 $2.583
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Number Accumulation Units
outstanding at end of period (in
thousands) 537,835 2,064 517,384 461,578 353,466 216,591 116,535 58,645
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</TABLE>
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<TABLE>
<CAPTION>
YEAR ENDED DECEMBER 31,
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WITHOUT THE WITH THE OPTIONAL
OPTIONAL DEATH DEATH BENEFIT
BENEFIT (UNAUDITED)
1999 1999 1998 1997 1996 1995 1994 1993
<S> <C> <C> <C> <C> <C> <C> <C> <C>
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HARTFORD MORTGAGE SECURITIES HLS
FUND SUB-ACCOUNT (Inception date
August 1, 1986)
Accumulation Unit Value at beginning
of period $2.211 $2.232 $2.098 $1.949 $1.878 $1.637 $1.685 $1.604
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Accumulation Unit Value at end of
period $2.217 $2.214 $2.211 $2.098 $1.949 $1.878 $1.637 $1.685
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Number Accumulation Units
outstanding at end of period (in
thousands) 52,197 270 48,850 38,292 38,304 31,288 20,674 28,380
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HARTFORD INDEX HLS FUND SUB-ACCOUNT
(Inception date May 1, 1987)
Accumulation Unit Value at beginning
of period $4.712 $5.182 $3.726 $2.845 $2.359 $1.750 $1.755 $1.629
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Accumulation Unit Value at end of
period $5.608 $5.602 $4.712 $3.726 $2.845 $2.359 $1.750 $1.755
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Number Accumulation Units
outstanding at end of period (in
thousands) 191,225 1,310 160,586 117,372 77,074 32,779 12,030 7,491
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HARTFORD INTERNATIONAL OPPORTUNITIES
HLS FUND SUB-ACCOUNT (Inception
date July 2, 1990)
Accumulation Unit Value at beginning
of period $1.641 $1.806 $1.469 $1.482 $1.329 $1.181 $1.220 $0.924
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Accumulation Unit Value at end of
period $2.267 $2.265 $1.641 $1.469 $1.482 $1.329 $1.181 $1.220
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Number Accumulation Units
outstanding at end of period (in
thousands) 391,871 970 400,336 396,430 326,954 222,606 175,763 66,084
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HARTFORD DIVIDEND AND GROWTH HLS
FUND SUB-ACCOUNT (Inception date
March 8, 1994)
Accumulation Unit Value at beginning
of period $2.471 $2.655 $2.149 $1.650 $1.359 $1.009 $1.000 --
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Accumulation Unit Value at end of
period $2.570 $2.567 $2.471 $2.149 $1.650 $1.359 $1.009 --
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Number Accumulation Units
outstanding at end of period (in
thousands) 760,046 2,453 375,537 541,076 301,767 101,085 21,973 --
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HARTFORD INTERNATIONAL ADVISERS HLS
FUND SUB-ACCOUNT (Inception date
March 1, 1995)
Accumulation Unit Value at beginning
of period $1.476 $1.576 $1.319 $1.266 $1.146 $1.000 -- --
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Accumulation Unit Value at end of
period $1.796 $1.794 $1.476 $1.319 $1.266 $1.146 -- --
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Number Accumulation Units
outstanding at end of period (in
thousands) 149,495 954 135,919 109,735 56,746 10,717 -- --
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HARTFORD SMALL COMPANY HLS FUND SUB-
ACCOUNT (Inception date
August 9, 1996)
Accumulation Unit Value at beginning
of period $1.374 $1.510 $1.247 $1.066 $1.000 -- -- --
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Accumulation Unit Value at end of
period $2.251 $2.248 $1.374 $1.247 $1.066 -- -- --
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Number Accumulation Units
outstanding at end of period (in
thousands) 198,856 1,735 156,179 108,104 24,397 -- -- --
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HARTFORD MIDCAP HLS FUND SUB-ACCOUNT
(Inception date July 15, 1997)
Accumulation Unit Value at beginning
of period $1.371 $1.589 $1.097 $1.000 -- -- -- --
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Accumulation Unit Value at end of
period $2.056 $2.054 $1.371 $1.097 -- -- -- --
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Number Accumulation Units
outstanding at end of period (in
thousands) 181,142 3,185 65,617 13,437 -- -- -- --
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HARTFORD GROWTH AND INCOME HLS FUND
SUB-ACCOUNT (Inception date
June 1, 1998)
Accumulation Unit Value at beginning
of period $1.182 $1.281 $1.000 -- -- -- -- --
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Accumulation Unit Value at end of
period $1.422 $1.420 $1.182 -- -- -- -- --
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Number Accumulation Units
outstanding at end of period (in
thousands) 78,909 3,576 11,822 -- -- -- -- --
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HARTFORD GLOBAL LEADERS HLS FUND
SUB-ACCOUNT (Inception date
September 30, 1998)
Accumulation Unit Value at beginning
of period $1.315 $1.451 $1.000 -- -- -- -- --
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Accumulation Unit Value at end of
period $1.952 $1.951 $1.315 -- -- -- -- --
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Number Accumulation Units
outstanding at end of period (in
thousands) 54,890 1,465 894 -- -- -- -- --
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HARTFORD HIGH YIELD HLS FUND
SUB-ACCOUNT (Inception date
September 30, 1998)
Accumulation Unit Value at beginning
of period $1.035 $1.084 $1.000 -- -- -- -- --
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Accumulation Unit Value at end of
period $1.070 $1.069 $1.035 -- -- -- -- --
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Number Accumulation Units
outstanding at end of period (in
thousands) 20,235 481 2,255 -- -- -- -- --
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</TABLE>
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<TABLE>
<CAPTION>
YEAR ENDED DECEMBER 31,
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WITHOUT THE WITH THE OPTIONAL
OPTIONAL DEATH DEATH BENEFIT
BENEFIT (UNAUDITED)
1999 1999 1998 1997 1996 1995 1994 1993
<S> <C> <C> <C> <C> <C> <C> <C> <C>
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EVERGREEN CAPITAL GROWTH FUND SUB-
ACCOUNT (inception date March 3,
1998)
Accumulation Unit Value at beginning
of period $1.075 $1.165 $1.000 -- -- -- -- --
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Accumulation Unit Value at end of
period $1.131 $1.130 $1.075 -- -- -- -- --
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Number Accumulation Units
outstanding at end of period (in
thousands) 1,389 9 1,367 -- -- -- -- --
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EVERGREEN PERPETUAL INTERNATIONAL
FUND SUB-ACCOUNT (inception date
March 3, 1998)
Accumulation Unit Value at beginning
of period $1.109 $1.222 $1.000 -- -- -- -- --
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Accumulation Unit Value at end of
period $1.533 $1.532 $1.109 -- -- -- --
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Number Accumulation Units
outstanding at end of period (in
thousands) 1,350 8 913 -- -- -- -- --
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EVERGREEN GROWTH FUND SUB-ACCOUNT
(inception date March 3, 1998)
Accumulation Unit Value at beginning
of period $0.907 $0.799 $1.000 -- -- -- -- --
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Accumulation Unit Value at end of
period $1.086 $1.085 $0.907 -- -- -- -- --
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Number Accumulation Units
outstanding at end of period (in
thousands) 806 13 652 -- -- -- -- --
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</TABLE>
HV-2734
33-73568
