<PAGE>
DIRECTOR LIFE
HARTFORD LIFE INSURANCE COMPANY
SUPPLEMENT DATED NOVEMBER 12, 1997 TO THE DIRECTOR LIFE PROSPECTUS DATED
MAY 1, 1997
The following should be deleted to the list of Sub-Accounts and underlying
investments for the Sub-Accounts on the first page:
MidCap Fund Sub-Account - shares of Hartford MidCap Fund, Inc.
("MidCap Fund")
The "Annual Fund Operating Expenses" table should be deleted and replaced with
the following:
ANNUAL FUND OPERATING EXPENSES
(AS PERCENTAGE OF NET ASSETS)
- --------------------------------------------------------------------------------
Total Fund
Management Other Operating
Fees Expenses Expenses
- --------------------------------------------------------------------------------
Hartford Bond Fund 0.490% 0.030% 0.520%
Hartford Stock Fund 0.441% 0.016% 0.457%
HVA Money Market Fund 0.423% 0.021% 0.444%
Hartford Advisers Fund 0.615% 0.017% 0.632%
Hartford Capital Appreciation Fund 0.629% 0.017% 0.646%
Hartford MidCap Fund (3) 0.520% 0.150% 0.670%
Hartford Mortgage Securities Fund 0.424% 0.029% 0.453%
Hartford Index Fund 0.374% 0.019% 0.393%
Hartford International Opportunities Fund 0.691% 0.095% 0.786%
Hartford Dividend & Growth Fund 0.709% 0.017% 0.726%
Hartford International Advisers Fund 0.746% 0.214% 0.960%
Hartford Small Company Fund 0.750% 0.040% 0.790%
- --------------------------------------------------------------------------------
The following footnotes (1) and (2) should be deleted:
(1) Length of time from premium payment.
(2) The annual contract fee is a single $30 charge on a Contract. It is
deducted proportionally from the investment options in use at the time of
the charge. Pursuant to requirements of the 1940 Act, the policy fees have
been reflected in the Examples by a method intended to show the "average"
impact of the policy fee on an investment in the Separate Account. The
Policy Fee is deducted only when the accumulated value is $50,000 or less.
In the Example, the annual contract fee is approximated as a 0.06% annual
asset charge based on the experience of the Contracts.
(3) Hartford MidCap Fund is a new Fund: Operating expenses are based on
annualized estimates of such
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expenses to be incurred in the current fiscal year. HL Investment Advisors,
Inc. has agreed to waive its fees for the MidCap Fund until the assets of
the Fund (excluding assets contributed by companies affiliated with HL
Investment Advisors, Inc.) first reach $20 million. Absent this waiver, the
investment advisory fee would be .575% annually and total fund operating
expense ratio would be .900% (annualized).
The following "Example" table should be deleted:
<TABLE>
<CAPTION>
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If you surrender your Contract at If you annuitize your Contract at
the end of the applicable time the end of the applicable time If you do not surrender your
period, you would pay the period, you would pay the Contract, you would pay the
following expenses on a $1,000 following expenses on a $1,000 following expenses on a $1,000
investment, assuming a 5% investment, assuming a 5% investment, assuming a 5%
annual return on assets: annual return on assets: annual return on assets:
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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
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Hartford MidCap
Fund $80 $113 N/A N/A $19 $62 N/A N/A $20 $63 N/A N/A
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</TABLE>
The first sentence of the fourth paragraph under the section entitled
"Introduction" should be deleted:
The investment options for the contracts are the Hartford Advisers Fund,
Inc., Hartford Bond Fund, Inc., Hartford Capital Appreciation Fund, Inc,
Hartford Dividend and Growth Fund, Inc., Hartford Index Fund, Inc.,
Hartford International Advisers Fund, Inc., Hartford International
Opportunities Fund, Inc., Hartford MidCap Fund, Inc., Hartford Mortgage
Securities Fund, Inc., Hartford Small Company Fund, Inc., Hartford Stock
Fund, Inc., HVA Money Market Fund, Inc. and such other funds as shall be
offered from time to time (the "Funds"), and the Fixed Account.
HV-2201-1
