<PAGE>
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<S> <C>
DIRECTOR ACCESS
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 Period Certain, Life Annuity
with Payments for a Period Certain or the Joint and Last Survivor Life Annuity
with Payments for a Period Certain Annuity Payout Options, but only if you
selected the variable dollar amount Annuity Payouts.
- 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.
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In the "Highlights" section, under the subsection "What Annuity Payout Options
are available?" the second paragraph is deleted and replaced with the following:
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 Payments
for a Period Certain Annuity Payout Option with period certain payments for 10
years. If your Contract is issued in New York, you cannot defer beyond the
Annuitant's 90th birthday. 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 Payments for a Period Certain, Joint and Last Survivor Life Annuity With
Payments for a Period Certain or the Payment for a Period Certain 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.
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 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 Payments for a Period Certain Annuity Payout
Option with period certain payouts for 10 years.
- 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.
<PAGE>
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 and
Hartford Global Technology Fund Sub-Accounts because, as of December 31, 1999,
the Sub-Accounts had not yet commenced operations.
<TABLE>
<CAPTION>
YEAR ENDED DECEMBER 31,
WITH THE
WITHOUT THE OPTIONAL WITHOUT THE
OPTIONAL DEATH BENEFIT OPTIONAL
DEATH BENEFIT (UNAUDITED) DEATH BENEFIT
1999 1999 1998
<S> <C> <C> <C>
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HARTFORD ADVISERS HLS FUND SUB-ACCOUNT (Inception date
August 1, 1986)
Accumulation Unit Value at beginning of period $ 1.035 $ 1.048 $ 1.000
-----------------------------------------------------------------------------------------------------------
Hartford Accumulation Unit Value at end of period $ 1.128 $ 1.127 $ 1.035
-----------------------------------------------------------------------------------------------------------
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Number Accumulation Units outstanding at end of period (in
thousands) 99,547 343 15,480
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HARTFORD BOND HLS FUND SUB-ACCOUNT (Inception date August 1,
1986)
Accumulation Unit Value at beginning of period $ 1.031 $ 0.995 $ 1.000
-----------------------------------------------------------------------------------------------------------
Accumulation Unit Value at end of period $ 0.995 $ 0.995 $ 1.031
-----------------------------------------------------------------------------------------------------------
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Number Accumulation Units outstanding at end of period (in
thousands) 11,256 26 3,237
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HARTFORD CAPITAL APPRECIATION HLS FUND SUB-ACCOUNT
(Inception date August 1, 1986)
Accumulation Unit Value at beginning of period $ 0.984 $ 1.074 $ 1.000
-----------------------------------------------------------------------------------------------------------
Accumulation Unit Value at end of period $ 1.334 $ 1.334 $ 0.984
-----------------------------------------------------------------------------------------------------------
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Number Accumulation Units outstanding at end of period (in
thousands) 27,329 298 3,000
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HARTFORD DIVIDEND AND GROWTH HLS FUND SUB-ACCOUNT (Inception
date March 8, 1994)
Accumulation Unit Value at beginning of period $ 1.008 $ 0.980 $ 1.000
-----------------------------------------------------------------------------------------------------------
Accumulation Unit Value at end of period $ 1.046 $ 1.046 $ 1.008
-----------------------------------------------------------------------------------------------------------
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Number Accumulation Units outstanding at end of period (in
thousands) 19,290 103 4,240
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HARTFORD GLOBAL LEADERS HLS FUND SUB-ACCOUNT (Inception date
September 30, 1998)
Accumulation Unit Value at beginning of period $ 1.319 $ 1.474 $ 1.000
-----------------------------------------------------------------------------------------------------------
Accumulation Unit Value at end of period $ 1.946 $ 1.946 $ 1.319
-----------------------------------------------------------------------------------------------------------
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Number Accumulation Units outstanding at end of period (in
thousands) 3,764 60 14
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HARTFORD GROWTH AND INCOME HLS FUND SUB-ACCOUNT (Inception
date June 1, 1998)
Accumulation Unit Value at beginning of period $ 1.090 $ 1.131 $ 1.000
-----------------------------------------------------------------------------------------------------------
Accumulation Unit Value at end of period $ 1.308 $ 1.308 $ 1.090
-----------------------------------------------------------------------------------------------------------
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Number Accumulation Units outstanding at end of period (in
thousands) 8,930 129 1,168
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HARTFORD HIGH YIELD HLS FUND SUB-ACCOUNT (Inception date
September 30, 1998)
Accumulation Unit Value at beginning of period $ 1.034 $ 1.045 $ 1.000
-----------------------------------------------------------------------------------------------------------
Accumulation Unit Value at end of period $ 1.067 $ 1.066 $ 1.034
-----------------------------------------------------------------------------------------------------------
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Number Accumulation Units outstanding at end of period (in
thousands) 2,071 2 87
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</TABLE>
<PAGE>
<TABLE>
<CAPTION>
YEAR ENDED DECEMBER 31,
WITH THE
WITHOUT THE OPTIONAL WITHOUT THE
OPTIONAL DEATH BENEFIT OPTIONAL
DEATH BENEFIT (UNAUDITED) DEATH BENEFIT
1999 1999 1998
<S> <C> <C> <C>
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HARTFORD INDEX HLS FUND SUB-ACCOUNT (Inception date May 1,
1987)
Accumulation Unit Value at beginning of period $ 1.045 $ 1.085 $ 1.000
-----------------------------------------------------------------------------------------------------------
Accumulation Unit Value at end of period $ 1.240 $ 1.240 $ 1.045
-----------------------------------------------------------------------------------------------------------
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Number Accumulation Units outstanding at end of (in
thousands) 27,071 83 3,777
-----------------------------------------------------------------------------------------------------------
HARTFORD INTERNATIONAL ADVISERS HLS FUND SUB-ACCOUNT
(Inception date March 1, 1995)
Accumulation Unit Value at beginning of period $ 0.971 $ 1.046 $ 1.000
-----------------------------------------------------------------------------------------------------------
Accumulation Unit Value at end of period $ 1.178 $ 1.178 $ 0.971
-----------------------------------------------------------------------------------------------------------
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Number Accumulation Units outstanding at end of period (in
thousands) 3,025 15 373
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HARTFORD INTERNATIONAL OPPORTUNITIES HLS FUND SUB-ACCOUNT
(Inception date July 2, 1990)
Accumulation Unit Value at end of period $ 0.924 $ 1.049 $ 1.000
-----------------------------------------------------------------------------------------------------------
Accumulation Unit Value at end of period $ 1.273 $ 1.273 $ 0.924
-----------------------------------------------------------------------------------------------------------
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Number Accumulation Units outstanding at end of period (in
thousands) 5,998 58 657
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HARTFORD MIDCAP HLS FUND SUB-ACCOUNT (Inception date July
15, 1997)
Accumulation Unit Value at beginning of period $ 1.017 $ 1.164 $ 1.000
-----------------------------------------------------------------------------------------------------------
Accumulation Unit Value at end of period $ 1.521 $ 1.520 $ 1.017
-----------------------------------------------------------------------------------------------------------
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Number Accumulation Units outstanding at end of period (in
thousands) 8,978 70 732
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HARTFORD MONEY MARKET HLS FUND SUB-ACCOUNT (Inception date
August 1, 1986)
Accumulation Unit Value at beginning of period $ 1.016 $ 1.040 $ 1.000
-----------------------------------------------------------------------------------------------------------
Accumulation Unit Value at end of period $ 1.050 $ 1.050 $ 1.016
-----------------------------------------------------------------------------------------------------------
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Number Accumulation Units outstanding at end of period (in
thousands) 60,490 35 9,217
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HARTFORD MORTGAGE SECURITIES HLS FUND SUB-ACCOUNT (Inception
date August 1, 1986)
Accumulation Unit Value at beginning of period $ 1.022 $ 1.020 $ 1.000
-----------------------------------------------------------------------------------------------------------
Accumulation Unit Value at end of period $ 1.022 $ 1.022 $ 1.022
-----------------------------------------------------------------------------------------------------------
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Number Accumulation Units outstanding at end of period (in
thousands) 5,585 -- 696
-----------------------------------------------------------------------------------------------------------
HARTFORD SMALL COMPANY HLS FUND SUB-ACCOUNT (Inception date
August 9, 1996)
Accumulation Unit Value at beginning of period $ 0.975 $ 1.166 $ 1.000
-----------------------------------------------------------------------------------------------------------
Accumulation Unit Value at end of period $ 1.593 $ 1.593 $ 0.975
-----------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------
Number Accumulation Units outstanding at end of period (in
thousands) 6,085 43 673
-----------------------------------------------------------------------------------------------------------
HARTFORD STOCK HLS FUND SUB-ACCOUNT (Inception date August
1, 1986)
Accumulation Unit Value at beginning of period $ 1.037 $ 1.083 $ 1.000
-----------------------------------------------------------------------------------------------------------
Accumulation Unit Value at end of period $ 1.223 $ 1.223 $ 1.037
-----------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------
Number Accumulation Units outstanding at end of period (in
thousands) 53,639 210 7,571
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HV-2715
333-45303
