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                                                                    EXHIBIT 4.06


                              DECLARATION OF TRUST

            This DECLARATION OF TRUST, dated as of June 3, 1998 (this
"Declaration of Trust") between HARTFORD LIFE, INC., a Delaware corporation (the
"Sponsor"), and Wilmington Trust Company, a Delaware banking corporation, as
Delaware Trustee (the "Delaware Trustee"), and Lynda Godkin, as trustee (the
"Administrative Trustee", and, together with the Delaware Trustee, the
"Trustees"). The Sponsor and the Trustees hereby agree as follows:

            1. The trust created hereby (the "Trust") shall be known as
"Hartford Life Capital I" in which name the Trustees, or the Sponsor to the
extent provided herein, may engage in the transactions contemplated hereby, make
and execute contracts, and sue and be sued.

            2. The Sponsor hereby assigns, transfers, conveys and sets over to
the Trustees the sum of $10. The Trustees hereby acknowledges receipt of such
amount in trust from the Sponsor, which amount shall constitute the initial
trust estate. The Trustees hereby declare that they will hold the trust estate
in trust for the Sponsor. It is the intention of the parties hereto that the
Trust created hereby constitutes a business trust under Chapter 38 of Title 12
of the Delaware Code, 12 Del. C. Section 3801 et seq. (the "Business Trust
Act"), and that this document constitutes the governing instrument of the Trust.
The Trustees are hereby authorized and directed to execute and file a
certificate of trust with the Secretary of State of the State of Delaware in
accordance with the provisions of the Business Trust Act.

            3. The Sponsor and the Trustees will enter into an Amended and
Restated Declaration of Trust, satisfactory to each such party and substantially
in the form included as an exhibit to the 1933 Act Registration Statement (as
defined below), to provide for the contemplated operation of the Trust created
hereby and the issuance of the Preferred Securities and Common Securities
referred to therein. Prior to the execution and delivery of such Amended and
Restated Declaration of Trust, (i) the Delaware Trustee shall not have any duty
or obligation hereunder or with respect to the trust estate, except as otherwise
required by applicable law, and (ii) the Administrative Trustee and the Sponsor
shall take any action as may be necessary to obtain prior to such execution and
delivery any licenses, consents or approvals required by applicable law or
otherwise. Notwithstanding the foregoing, the Trustees may take all actions
deemed proper as are necessary to effect the transactions contemplated herein.

            4. The Sponsor hereby agrees to (i) reimburse the Delaware Trustee
for all reasonable expenses (including reasonable fees and expenses of counsel
and other experts), (ii)
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indemnify, defend and hold harmless the Delaware Trustee and any of the
officers, directors, employees and agent of the Delaware Trustee (collectively,
including the Delaware Trustee in its individual capacity, the "Indemnified
Persons") from and against any and all losses, damages, liabilities, claims,
actions, suits, costs, expenses, disbursements (including the reasonable fees
and expenses of counsel), taxes and penalties of any kind and nature whatsoever
(collectively, "Expenses"), to the extent that such Expenses arise out of or are
imposed upon or asserted at any time against such Indemnified Persons with
respect to the performance of this Declaration, the creation, operation,
administration or termination of the Trust, or the transactions contemplated
hereby; provided, however, that the Sponsor shall not be required to indemnify
any Indemnified Person for Expenses to the extent such Expenses result from the
willful misconduct, bad faith or negligence of such Indemnified person, and
(iii) advance to such Indemnified Person Expenses (including reasonable legal
fees) incurred by such Indemnified Person in defending any claim, demand,
action, suit or proceeding prior to the final disposition of such claim, demand,
action, suit or proceeding upon receipt by the Sponsor of an undertaking by or
on behalf of the Indemnified Person to repay such amount if it shall be
determined that the Indemnified Person is not entitled to be indemnified
therefor under this Section 4.

            5. The Sponsor, as the sponsor of the Trust, is hereby authorized,
in its discretion (i) to file with the Securities and Exchange Commission (the
"Commission") and execute, in each case on behalf of the Trust, (a) a
registration statement on Form S-3 (the "1933 Act Registration Statement"),
including any pre-effective or post-effective amendments thereto (including the
prospectus, prospectus supplements and the exhibits contained therein), and any
registration statement filed pursuant to Rule 462 under the Securities Act of
1933, as amended (the "1933 Act"), relating to the registration under the 1933
Act of the Preferred Securities of the Trust and certain other securities and
(b) a Registration Statement on Form 8-A (the "1934 Act Registration
Statement"), including any pre-effective and post-effective amendments thereto,
relating to the registration of the Preferred Securities of the Trust under
Section 12(b) or 12(g) of the Securities Exchange Act of 1934, as amended; (ii)
to file with the New York Stock Exchange or any other national stock exchange or
The Nasdaq National Market (each, an "Exchange") and execute on behalf of the
Trust one or more listing applications and all other applications, statements,
certificates, agreements and other instruments as shall be necessary or
desirable to cause the Preferred Securities to be listed on any of the
Exchanges; (iii) to file and execute on behalf of the Trust such applications,
reports, surety bonds, irrevocable consents, appointments of attorney for
service of process and other papers and documents as shall be necessary or
desirable to register the Preferred Securities under the securities or blue sky
laws of such jurisdictions as the Sponsor on behalf of the Trust, may deem
necessary or desirable; and (iv) to execute, deliver and perform on behalf of
the Trust that certain Underwriting Agreement relating to the Preferred
Securities, among the Trust, the Sponsor and the several Underwriters named
therein, substantially in the form


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included as an exhibit to the 1933 Act Registration Statement. In the event that
any filing referred to in clauses (i), (ii) and (iii) above is required by the
rules and regulations of the Commission, an Exchange or state securities or blue
sky laws, to be executed on behalf of the Trust by any of the Trustees, each of
the Trustees, in its capacity as a Trustee of the Trust, is hereby authorized
and directed to join in any such filing and to execute on behalf of the Trust
any and all of the foregoing. In connection with the filings referred to above,
the Sponsor hereby constitutes and appoints Gregory A. Boyko and Lynda Godkin
and each of them, as its true and lawful attorneys-in-fact and agents, with full
power of substitution and resubstitution, for the Sponsor or in the Sponsor's
name, place and stead, in any and all capacities, to sign any and all amendments
(including post-effective amendments) to the 1933 Act Registration Statement
(and any registration statement filed pursuant to Rule 462 promulgated pursuant
to the 1933 Act) and the 1934 Act Registration Statement and to file the same,
with all exhibits thereto, and other documents in connection therewith, with the
Commission, any Exchange and administrators of state securities or blue sky
laws, granting unto said attorney-in-fact and agents full power and authority to
do and perform each and every act and thing requisite and necessary to be done
in connection therewith, as fully to all intents and purposes as the Sponsor
might or could do in person, thereby ratifying and confirming all that said
attorneys-in-fact and agents or any of them, or their respective substitute or
substitutes, shall do or cause to be done by virtue hereof.

            6. The Delaware Trustee shall take such action or refrain from
taking such action under this Declaration as it may be directed in writing by
the Sponsor from time to time; provided, however, that the Delaware Trustee
shall not be required to take or refrain from taking any such action if it shall
have determined, or shall have been advised by counsel, that such performance is
likely to involve the Delaware Trustee in personal liability or is contrary to
the terms of this Declaration or of any document contemplated hereby to which
the Trust or the Delaware Trustee is a party or is otherwise contrary to law. If
at any time the Delaware Trustee determines that it requires or desires guidance
regarding the application of any provision of this Declaration or any other
document, then the Delaware Trustee may deliver a notice to the Sponsor
requesting written instructions as to the course of action desired by the
Sponsor, and such instructions shall constitute full and complete authorization
and protection for actions taken by the Delaware Trustee in reliance thereon. If
the Delaware Trustee does not receive such instructions it may refrain from
taking any action with respect to the matters described in such notice to the
Sponsor.

            7. This Declaration of Trust may be executed in one or more
counterparts.

            8. The number of Trustees initially shall be two (2) and thereafter
the number of Trustees shall be such number as shall be fixed from time to time
by a written instrument signed by the Sponsor which may increase or decrease the
number of Trustees;


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provided, however, that to the extent required by the Business Trust Act, one
Trustee shall either be a natural person who is a resident of the State of
Delaware or, if not a natural person, an entity which has its principal place of
business in the State of Delaware and otherwise meets the requirements of
applicable Delaware law. Subject to the foregoing, the Sponsor is entitled to
appoint or remove without cause any Trustee at any time. A Trustee may resign
upon thirty (30) days' prior notice to the Sponsor.

            9. This Declaration of Trust shall be governed by, and construed in
accordance with, the internal laws of the State of Delaware.

            IN WITNESS WHEREOF, the parties hereto have caused this Declaration
of Trust to be duly executed as of the day and year first above written.

                                    HARTFORD LIFE, INC.,
                                   as Sponsor


                                    By:  /s/ Lynda Godkin
                                         -------------------------------------
                                    Name:  Lynda Godkin
                                    Title:    Vice President, General Counsel



                                    WILMINGTON TRUST COMPANY,
                                   as Trustee


                                    By:  /s/ Donald G. Mackelcan
                                         -------------------------------------
                                    Name:  Donald G. Mackelcan
                                    Title:    Assistant Vice President


                                    /s/ Lynda Godkin
                                    ------------------------------------------
                                    Name:  Lynda Godkin, as Trustee


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