<DOCUMENT>
<TYPE>EX-99.N
<SEQUENCE>8
<FILENAME>a2123721zex-99_n.txt
<DESCRIPTION>EXHIBIT 99.(N)
<TEXT>
<Page>
                                                               EXHIBIT 99.n


                        CONSENT OF INDEPENDENT AUDITORS

We consent to the reference to our firm under the captions "Financial
Highlights" and "Auditors" in the Prospectus and "Auditors" in the Statement
of Additional Information and to the incorporation by reference of our report
dated May 5, 2003 in this Registration Statement (Form N-2 No. 811-7528) of
Insured Municipal Income Fund, Inc.


                                                         ERNST & YOUNG LLP


New York, New York
December 10, 2003


</TEXT>
</DOCUMENT>
