-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>/in/edgar/work/20000530/0000897802-00-000001/0000897802-00-000001.txt : 20000919
<SEC-HEADER>0000897802-00-000001.hdr.sgml : 20000919
ACCESSION NUMBER:		0000897802-00-000001
CONFORMED SUBMISSION TYPE:	NSAR-B
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20000331
FILED AS OF DATE:		20000530

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			INSURED MUNICIPAL INCOME FUND INC
		CENTRAL INDEX KEY:			0000897802
		STANDARD INDUSTRIAL CLASSIFICATION:	 [0000
]		IRS NUMBER:				133702911
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			0331
</COMPANY-DATA>

		FILING VALUES:
			FORM TYPE:		NSAR-B
			SEC ACT:		
			SEC FILE NUMBER:	811-07528
			FILM NUMBER:		645728
</FILING-VALUES>

			BUSINESS ADDRESS:	
				STREET 1:		1285 AVE OF THE AMERICAS
				STREET 2:		14TH FLOOR
				CITY:			NEW YORK
				STATE:			NY
				ZIP:			10017
				BUSINESS PHONE:		2127132000
</BUSINESS-ADDRESS>

				MAIL ADDRESS:	
					STREET 1:		51 WEST 52ND ST
					STREET 2:		23RD FLOOR
					CITY:			NEW YORK
					STATE:			NY
					ZIP:			10019
</MAIL-ADDRESS>

					FORMER COMPANY:	
						FORMER CONFORMED NAME:	PAINEWEBBER PREMIER INSURED MUNICIPAL INCOME FUND INC
						DATE OF NAME CHANGE:	19930714
</FORMER-COMPANY>
</FILER>
</SEC-HEADER>
<DOCUMENT>
<TYPE>NSAR-B
<SEQUENCE>1
<FILENAME>0001.txt
<DESCRIPTION>N-SAR (6.1)
<TEXT>

<PAGE>      PAGE  1
000 B000000 03/31/2000
000 C000000 0000897802
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 INSURED MUNICIPAL INCOME FUND INC.
001 B000000 811-7528
001 C000000 2127133041
002 A000000 51 WEST 52ND STREET
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10019
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 N
007 B000000  0
007 C010100  1
007 C010200  2
007 C010300  3
007 C010400  4
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
008 A000001 MITCHELL HUTCHINS ASSET MANAGEMENT INC.
008 B000001 A
008 C000001 801-13219
008 D010001 NEW YORK
008 D020001 NY
008 D030001 10019
010 A000001 MITCHELL HUTCHINS ASSET MANAGEMENT INC.
010 B000001 801-13219
010 C010001 NEW YORK
010 C020001 NY
010 C030001 10019
011 A000001 PAINEWEBBER INC.
011 B000001 8-16267
011 C010001 NEW YORK
011 C020001 NY
011 C030001 10019
011 A000002 DELETE
011 A000003 DELETE
011 A000004 DELETE
<PAGE>      PAGE  2
012 A000001 P.F.P.C.INC.
012 B000001 85-0000000
012 C010001 WILMINGTON
012 C020001 DE
012 C030001 19809
013 A000001 ERNST & YOUNG
013 B010001 NEW YORK
013 B020001 NY
013 B030001 10019
014 A000001 PAINEWEBBER INCORPORATED
014 B000001 8-16267
014 A000002 MITCHELL HUTCHINS ASSET MANAGEMENT INC.
014 B000002 8-21901
015 A000001 STATE STREET BANK & TRUST COMANY
015 B000001 C
015 C010001 NORTH QUINCY
015 C020001 MA
015 C030001 02171
015 E010001 X
018  000000 Y
019 A000000 Y
019 B000000   73
019 C000000 PAINEWEBBR
020 C000001      0
020 C000002      0
020 C000003      0
020 C000004      0
020 C000005      0
020 C000006      0
020 C000007      0
020 C000008      0
020 C000009      0
020 C000010      0
021  000000        0
022 A000001 SALOMON BROTHERS
022 B000001 13-3082694
022 C000001     33000
022 D000001     24700
022 A000002 JP MORGAN
022 C000002      7700
022 D000002      9000
022 A000003 BEAR STERNS
022 C000003     13635
022 D000003         0
022 A000004 MORGAN STANLEY AND CO., INC.
022 B000004 13-2655998
022 C000004      5300
022 D000004      5093
022 A000005 MERILL LYNCH PIERCE FENNER
022 B000005 13-5674085
022 C000005      1306
<PAGE>      PAGE  3
022 D000005      7874
022 A000006 LEHMAN BROTHERS
022 C000006      1700
022 D000006      5976
022 A000007 GOLDMAN SACHS
022 C000007      4569
022 D000007       900
022 A000008 FIRST ALBANY CORP.
022 C000008      2250
022 D000008      1440
022 A000009 PRUDENTIAL SECURITIIES INCORP.
022 C000009      1200
022 D000009      1800
022 A000010 STATE STREET BANK & TRUST
022 C000010         0
022 D000010      1200
023 C000000      87692
023 D000000      88144
024  000000 N
025 D000001       0
025 D000002       0
025 D000003       0
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<PAGE>      PAGE  4
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<PAGE>      PAGE  5
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<PAGE>      PAGE  6
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070 F010000 N
070 F020000 N
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070 H010000 N
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
070 J020000 N
070 K010000 Y
070 K020000 N
070 L010000 N
070 L020000 N
070 M010000 N
070 M020000 N
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070 Q020000 N
<PAGE>      PAGE  7
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<PAGE>      PAGE  8
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074 J000000        0
074 K000000        0
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074 S000000   150000
074 T000000   299876
074 U010000    20628
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074 V010000    14.54
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074 W000000   0.0000
074 X000000        0
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075 A000000        0
075 B000000   304391
076  000000    12.00
077 A000000 Y
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077 C000000 N
077 D000000 N
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077 F000000 N
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077 H000000 N
077 I000000 N
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077 L000000 N
077 M000000 N
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077 Q010000 Y
077 Q020000 N
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078  000000 N
080 A000000 ICI MUTUAL INSURANCE CO.
080 C000000    50000
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081 B000000  72
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<PAGE>      PAGE  9
083 A000000 N
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086 F010000      0
086 F020000      0
087 A010000 COMMON STOCK
087 A020000 69574F107
087 A030000 PIF
088 A000000 N
088 B000000 N
088 C000000 N
088 D000000 Y
SIGNATURE   PAUL SCHUBERT
TITLE       TREASURER


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-27
<SEQUENCE>2
<FILENAME>0002.txt
<FLAWED>
<TEXT>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000897802
<NAME> INSURED MUNICIPAL INCOME FUND INC.
<MULTIPLIER> 1,000

<S>                             <C>
<PERIOD-TYPE>                                12-MOS
<FISCAL-YEAR-END>                                             MAR-31-2000
<PERIOD-START>                                                APR-01-1999
<PERIOD-END>                                                  MAR-31-2000
<INVESTMENTS-AT-COST>                                             432,311
<INVESTMENTS-AT-VALUE>                                            443,240
<RECEIVABLES>                                                       7,496
<ASSETS-OTHER>                                                          4
<OTHER-ITEMS-ASSETS>                                                    0
<TOTAL-ASSETS>                                                    450,781
<PAYABLE-FOR-SECURITIES>                                                0
<SENIOR-LONG-TERM-DEBT>                                                 0
<OTHER-ITEMS-LIABILITIES>                                             905
<TOTAL-LIABILITIES>                                                   905
<SENIOR-EQUITY>                                                   150,000
<PAID-IN-CAPITAL-COMMON>                                          302,700
<SHARES-COMMON-STOCK>                                              20,628
<SHARES-COMMON-PRIOR>                                              20,628
<ACCUMULATED-NII-CURRENT>                                           1,058
<OVERDISTRIBUTION-NII>                                                  0
<ACCUMULATED-NET-GAINS>                                          (14,811)
<OVERDISTRIBUTION-GAINS>                                                0
<ACCUM-APPREC-OR-DEPREC>                                           10,929
<NET-ASSETS>                                                      449,876
<DIVIDEND-INCOME>                                                       0
<INTEREST-INCOME>                                                  25,829
<OTHER-INCOME>                                                          0
<EXPENSES-NET>                                                    (4,383)
<NET-INVESTMENT-INCOME>                                            21,446
<REALIZED-GAINS-CURRENT>                                             (22)
<APPREC-INCREASE-CURRENT>                                        (21,742)
<NET-CHANGE-FROM-OPS>                                               (318)
<EQUALIZATION>                                                          0
<DISTRIBUTIONS-OF-INCOME>                                        (21,167)
<DISTRIBUTIONS-OF-GAINS>                                                0
<DISTRIBUTIONS-OTHER>                                                   0
<NUMBER-OF-SHARES-SOLD>                                                 0
<NUMBER-OF-SHARES-REDEEMED>                                             0
<SHARES-REINVESTED>                                                     0
<NET-CHANGE-IN-ASSETS>                                           (21,485)
<ACCUMULATED-NII-PRIOR>                                               781
<ACCUMULATED-GAINS-PRIOR>                                        (14,788)
<OVERDISTRIB-NII-PRIOR>                                                 0
<OVERDIST-NET-GAINS-PRIOR>                                              0
<GROSS-ADVISORY-FEES>                                               4,090
<INTEREST-EXPENSE>                                                      0
<GROSS-EXPENSE>                                                     4,951
<AVERAGE-NET-ASSETS>                                              304,391
<PER-SHARE-NAV-BEGIN>                                               15.58
<PER-SHARE-NII>                                                      1.04
<PER-SHARE-GAIN-APPREC>                                            (1.05)
<PER-SHARE-DIVIDEND>                                               (1.03)
<PER-SHARE-DISTRIBUTIONS>                                               0
<RETURNS-OF-CAPITAL>                                                    0
<PER-SHARE-NAV-END>                                                 14.54
<EXPENSE-RATIO>                                                      1.44
AVG-DEBT-OUTSTANDING>                                                  0
AVG-DEBT-PER-SHARE>                                                    0


</TABLE>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>3
<FILENAME>0003.txt
<TEXT>

                 Report of Independent Auditors



To the Shareholders and Board of Directors of
Insured Municipal Income Fund Inc.

In planning and performing our audit of the financial
statementsof Insured Municipal Income Fund Inc. for
the year ended March 31, 2000, we considered its
internal control, including control activities for
safeguarding securities, to determine our auditing
procedures for the purpose of expressing our opinion
on the financial statements and to comply with
the requirements of Form N-SAR, and not to provide
assurance on internal control.

The management of Insured Municipal Income Fund
Inc. is responsible for establishing and maintaining
internal control. In fulfilling this responsibility,
estimates and judgments by management are required
to assess the expected benefits and related costs
of internal control. Generally, internal controls
that are relevant to an audit pertain to the
entity's objective of preparing financial statements
for external purposes that are fairly presented in
conformity with accounting principles generally
accepted in the United States.  Those internal
controls include the safeguarding of assets
against unauthorized acquisition, use, or
disposition.

Because of inherent limitations in any internal
control, misstatements due to errors or fraud
may occur and not be detected.  Also, projections
of any evaluation of internal control to future
periods are subject to the risk that internal
control may become inadequate because of
changes in conditions,or that the degree
of compliance with the policies or procedures
may deteriorate.

Our consideration of internal control would
not necessarily disclose all matters in
internal control that might be material weaknesses
under standards established by the American
Institute of Certified Public Accountants.
A material weakness is a condition in which
the design or operation of one or more of the
specific internal control components does not
reduce to a relatively low level the risk that
errors or fraud in amounts that would be
material in relation to the financial statements
being audited may occur and not be detected
within a timely period by employees in the normal
course of performing their assigned functions.
However, we noted no matters involving internal
control, including control activities for
safeguarding securities, and its operation that
we consider to be material weaknesses as defined
above as of March 31, 2000.

This report is intended solely for the information
and use of the shareholders, board of directors
and management of Insured Municipal Income Fund
Inc. and the Securities and Exchange Commission
and is not intended to be and should not be used
by anyone other than these specified parties.



                              ERNST & YOUNG LLP

May 15, 2000

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>4
<FILENAME>0004.txt
<TEXT>

If filing more than one
Page 32, "X" box:
For period ending	March 31, 2000

File number 811-7528


77.	A.Is the Registrant filing any
 of the following attachments with the current
		filing of Form N-SAR?  (ANSWER
 FOR ALL SERIES AS A GROUP)		Y
			Y/N

NOTE:  If answer is "Y" (Yes), mark those items
below being filed as an attachment to this
form or incorporated by reference.	   N
	Y/N

	B.Accountant's report on
internal control                        FINANCE
	C.Matters submitted to a vote
of security holders		  N
	D.Policies with respect to
security investments		  N
	E.Legal proceedings	N
	F.Changes in security for
debt					  N
	G.Defaults and arrears on senior
 securities		  N
	H.Changes in control of
Registrant		  N
	I.Terms of new or amended
securities		  N
	J.Revaluation of assets or
restatement of capital share
account              FINANCE
	K.Changes in Registrant's
certifying accountant              FINANCE
	L.Changes in accounting
principles and practices           FINANCE
	M.Mergers		  N
	N.Actions required to be
reported pursuant to Rule 2a-7		  N
	O.Transactions effected
pursuant to Rule 10f-3		  N
	P.Information required to be
filed pursuant to existing exemptive
orders		  N Attachment Information
 (Cont. On Screen 39)



If filing more than one
Page 32, "X" box:
For period ending	March 31, 2000

File number 811-7528


Attachment Information (Cont. from Screen 38)

77.	Q.1.	Exhibits		_Y_
			Y/N

	2.Any information called
for by instructions to sub-item 77Q2		___
		Y/N

	3.Any information called for
by instructions to sub-item 77Q3		___
	Y/N




SCREEN NUMBER:  39

__ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __ __
79.	List the "811" numbers and names of
 Registrant's wholly-owned investment
		company subsidiaries consolidated
in this report.


811 Number		Subsidiary Name



If filing more than one
Page 46, "X" box:
For period ending March 31, 2000

File number 811-7528

ANNUAL SUPPLEMENT
Page 53 is to be filed only once
each year at the end of Registrant's fiscal year.

105.	Fidelity bond(s) in effect at the end of
the period:

	A.	Insurer Name: ICI Mutual
Insurance Co.

	B.	Second Insurer:

	C.	Aggregate face amount of
coverage for Registrant on all bonds on which
it is named as an insured ($000's omitted)
		$50,000

106.	A.	Is the bond part of a
joint fidelity bond(s) shared with other
investment companies or other entities?
	Y
	   Y/N

	B.	If the answer to
106A is "Y" (Yes), how many other investment
companies or other entities are covered
by the bond? 		72
			NOTE:  Count each
series as a separate investment company.

107.	A.	Does the mandatory
 coverage of the fidelity bond have a
deductible?	N
				Y/N

	B.	If the answer
to 107A is "Y" (Yes), what is the amount
of the deductible?	 $

108.	A.	Were any claims with
 respect to this Registrant filed under the
bond during the period?		N
	    Y/N

	B.	If the answer to
108A is "Y" (Yes), what was the total amount
of such claim(s)? $

109.	A.	Were any losses
incurred with respect to this Registrant that
could have been filed as a claim under the
fidelity bond but were not?		  N
	     Y/N

	B.	If the answer to
sub-item 109A is "Y" (Yes), what was the total
amount of such losses?  ($000's omitted) $

110.	A.	Are Registrant's
officers and directors covered as officers and
directors of Registrant under any errors and
omissions insurance policy owned by the
Registrant or anyone else?		Y
					    Y/N

	B.	Were any claims filed
under such policy during the period with respect to
			Registrant?		N
	     Y/N



Insured Municipal Income Fund Inc.
N-SAR Exhibits


Item 77 (Q)(1)


For period ending 	March 31, 2000

File number 811-7528



At a Board of Directors meeting held on
December 17, 1999, the directors approved the
amended and restatement of the by-laws.



</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
