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SELECT DIMENSIONS LIFE MODIFIED SINGLE PREMIUM
VARIABLE LIFE INSURANCE POLICIES
HARTFORD LIFE INSURANCE COMPANY
HARTFORD LIFE INSURANCE COMPANY SEPARATE ACCOUNT FIVE
PRE-SUBSTITUTION SUPPLEMENT DATED SEPTEMBER 5, 2000
TO
PROSPECTUS DATED MAY 1, 2000
On August 28, 2000, Hartford Life Insurance Company ("Hartford") and
several other applicants filed an application with the Securities and Exchange
Commission seeking an order approving the substitution of shares of certain
investment portfolios of The Universal Institutional Funds, Inc. ("Universal
Funds"), which are currently held by various Sub-Accounts of Hartford Life
Insurance Company Separate Account Five (the "Account"), for shares of certain
other investment portfolios of Morgan Stanley Dean Witter Select Dimensions
Investment Series ("Select Dimensions Trust"). To the extent required by law,
approvals of such substitution will also be obtained from the state insurance
regulators in certain jurisdictions. If such approvals are granted, the North
American Government Securities Sub-Account and the Emerging Markets Sub-Account
will no longer be available investment options under the contracts described in
the May 1, 2000 prospectuses for the Account (the "Contracts"). Hartford
anticipates that, if such approvals are granted, the proposed substitutions will
occur near the end of calendar year 2000 or early in calendar year 2001.
The effect of such share substitutions would be to replace certain
portfolios of Select Dimensions Trust with certain portfolios of Universal Funds
as investment options under the Contracts. More particularly, Hartford proposes
to substitute: (1) shares of Universal Funds' Fixed Income Portfolio for shares
of Select Dimensions Trust's North American Government Portfolio, and (2) shares
of Universal Funds' Emerging Markets Equity Portfolio for shares of Select
Dimensions Trust's Emerging Markets Portfolio.
The investment objectives of the Universal Funds' Fixed Income
Portfolio and Emerging Markets Equity Portfolio are summarized below. Contract
owners and prospective purchasers should carefully read each Portfolio's
prospectus.
The Fixed Income Portfolio seeks above-average total return over a
market cycle of three to five years by investing primarily in a
diversified portfolio of fixed-income securities.
The Emerging Markets Equity Portfolio seeks long-term capital
appreciation by investing primarily in equity securities of issuers in
emerging market countries.
From the date of this supplement to the date of the proposed
substitutions, each Contract owner is permitted to make one transfer of all
amounts under a Contract invested in either of the affected Sub-Accounts on the
date of this supplement to another Sub-Account (other than one of the other
affected Sub-Accounts) without that transfer counting as a "free" transfer
permitted under a Contract. Also, Hartford will not exercise any rights reserved
under any Contract to impose additional restrictions on transfers until at least
thirty (30) days after the proposed substitutions occur.
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If the proposed substitutions are carried out, each Contract owner
affected by the substitution will be sent a written notice informing them that
the substitutions were carried out and that they may make one transfer of all
amounts under a Contract invested in any one of the affected Sub-Accounts on the
date of the notice to another Sub-Account without that transfer counting as a
"free" transfer permitted under a Contract.
This supplement should be retained with the Prospectus for future
reference.
HV-2698
333-00245
