<PAGE>
PUTNAM HARTFORD INHERITANCE MANAGER VARIABLE LIFE
HARTFORD LIFE AND ANNUITY INSURANCE COMPANY
SUPPLEMENT DATED SEPTEMBER 30, 1998 TO THE PROSPECTUS DATED MAY 1, 1998
FOR PUTNAM INHERITANCE MANAGER VARIABLE LIFE
The following new fund and sub-account should be inserted into the table which
begins on the first page of the prospectus, between Putnam OTC & Emerging Growth
Sub-Account and Putnam U.S. Government & High Quality Bond Sub-account:
Putnam Research Sub-Account - shares of Class IB of Putnam VT
Research Fund of Putnam Variable Trust
The third sentence of the first paragraph of the section entitled "THE SEPARATE
ACCOUNT AND THE FUNDS" should be deleted and replaced with the following
language:
The Policies currently offer 21 sub-accounts ("Sub-Accounts"), each investing
exclusively in a Fund.
The following should be inserted in the second paragraph of the section entitled
"THE SEPARATE ACCOUNT AND THE FUNDS" between "Putnam VT OTC & Emerging Growth
Fund" and "Putnam U.S. Government and High Quality Bond":
Putnam VT Research Fund
The table and accompanying footnotes under the section entitled "Annual Fund
Operating Expenses" should be deleted and replaced with the following language
ANNUAL FUND OPERATING EXPENSES
(as a percentage of net assets)
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------
Management Other Total
Fees Expenses Fund
(absent (absent Operating
any fee any Expenses
waivers) expense (1)(2)
reimburse-
ments)
- ------------------------------------------------------------------------------
<S> <C> <C> <C>
Putnam VT Asia Pacific Growth Fund 0.800% 0.270% 1.070%
- ------------------------------------------------------------------------------
Putnam VT Diversified Income Fund 0.690% 0.110% 0.800%
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Putnam VT The George Putnam Fund of Boston 0.650% 0.360% 1.010%
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Putnam VT Global Asset Allocation Fund 0.660% 0.110% 0.770%
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Putnam VT Global Growth Fund 0.600% 0.150% 0.750%
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</TABLE>
<PAGE>
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------
Management Other Total
Fees Expenses Fund
(absent (absent Operating
any fee any Expenses
waivers) expense (1)(2)
reimburse-
ments)
- ------------------------------------------------------------------------------
<S> <C> <C> <C>
Putnam VT Growth and Income Fund 0.470% 0.040% 0.510%
- ------------------------------------------------------------------------------
Putnam VT Health Sciences Fund 0.700% 0.340% 1.040%
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Putnam VT High Yield Fund 0.660% 0.060% 0.720%
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Putnam VT International Growth Fund 0.800% 0.470% 1.270%
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Putnam VT International Growth and Income 0.800% 0.320% 1.120%
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Putnam VT International New Opportunities 1.200% 0.680% 1.890%
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Putnam VT Investors Fund 0.650% 0.330% 0.980%
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Putnam VT Money Market Fund 0.450% 0.090% 0.540%
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Putnam VT New Opportunities Fund 0.580% 0.050% 0.630%
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Putnam VT New Value Fund 0.700% 0.150% 0.850%
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Putnam VT OTC & Emerging Growth Fund 0.700% 0.340% 1.040%
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Putnam VT Research Fund 0.65% 0.48% 1.13%
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Putnam VT U.S. Government and High Quality 0.610% 0.080% 0.690%
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Putnam VT Utilities Growth and Income Fund 0.670% 0.070% 0.740%
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Putnam VT Vista Fund 0.650% 0.220% 0.870%
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Putnam VT Voyager Fund 0.540% 0.050% 0.590%
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</TABLE>
(1) "Management Fees" generally represent the fees paid to the investment
adviser or its affiliate for investment and administrative services
provided. "Other Expenses" are expenses (other than "Management Fees")
which are deducted from the fund including legal, accounting and
custodian fees. For a complete description of the nature of the
services provided in consideration of the operating expenses deducted,
please see the Fund prospectuses.
(2) The "Management Fees" and "Other Expenses" shown in the table above do
not reflect an expense limitation. After an expense limitation,
"Management Fees," "Other Expenses" and "Total Fund Operating Expenses"
would have been:
<TABLE>
<CAPTION>
TOTAL FUND
MANAGEMENT FEES OTHER EXPENSES OPERATING
EXPENSES
<S> <C> <C> <C>
Putnam VT The George 0.49% 0.36% 0.85%
Putnam Fund of
Boston*
Putnam VT Health 0.56% 0.34% 0.90%
Sciences Fund*
Putnam VT 0.73% 0.47% 1.20%
International Growth
<PAGE>
Fund
Putnam VT 0.92% 0.68% 1.60%
International New
Opportunities Fund
Putnam VT Investors 0.52% 0.33% 0.85%
Fund*
Putnam VT OTC & 0.56% 0.34% 0.90%
EmergingGrowth Fund*
Putnam VT Research 0.37% 0.48% 0.85%
Fund*
</TABLE>
*Estimated "Management Fees," "Other Expenses" and "Total Fund Operating
Expenses."
The investment adviser for all the Funds is Putnam Management. See "The
Separate Account," page .
The following paragraph should be inserted within the section entitled "The
Separate Account", in the subsection entitled "Funds" between the paragraphs
entitled "Putnam VT OTC & Emerging Growth Fund" and "Putnam VT U.S. Government
and High Quality Bond Fund":
PUTNAM VT RESEARCH FUND Seeks capital appreciation by investing primarily in
common stocks recommended by Putnam Investment Management, Inc., ("Putnam
Management"), as having the greatest potential for capital appreciation.
The second sentence of the second paragraph of the section entitled
"Distribution of the Policies" should be deleted and replaced with the following
language:
Both HESCO and HSD are affiliates of Hartford. Hartford's parent company
indirectly owns 100% of HSD and HESCO.
HV-
33-36367
