UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number: 811-07528

Insured Municipal Income Fund Inc.
(Exact name of registrant as specified in charter)

51 West 52nd Street, New York, New York 10019-6114
(Address of principal executive offices) (Zip code)

Mark F. Kemper, Esq.
UBS Global Asset Management
51 West 52nd Street
New York, NY 10019-6114
(Name and address of agent for service)

Copy to:
Jack W. Murphy, Esq.
Dechert LLP
1775 I Street, N.W.
Washington, DC 20006-2401

Registrant’s telephone number, including area code: 212-882 5000

Date of fiscal year end: March 31

Date of reporting period: June 30, 2006

Item 1. Schedule of Investments

Insured Municipal Income Fund Inc.
SCHEDULE OF INVESTMENTS — June 30, 2006 (unaudited)
                             
                             
Principal                        
Amount       Moody’s   S&P   Maturity Interest  
(000) ($)       Rating   Rating   Dates Rates (%) Value ($)
Long-Term Municipal Bonds—163.50%                    
California—46.93%                    
  3,000    

California State Department of Water Resources Revenue-Central Valley Project-Series AC (MBIA Insured)

   Aaa   AAA   12/01/27   5.000   3,072,360
  30    

California State General Obligation (FGIC Insured)

   Aaa   AAA   11/01/12   7.000   30,297
  3,305    

Chino Valley Unified School District-Series A (FSA Insured)

   Aaa   AAA   08/01/26   5.000   3,382,039
  4,400    

Inglewood Unified School District-1998 Election-Series C (FSA Insured)

   Aaa   AAA   10/01/28   5.000   4,488,132
  2,000    

Long Beach Finance Authority Lease Revenue-Aquarium of the South Pacific (AMBAC Insured)

   Aaa   AAA   11/01/15   5.500   2,144,040
  5,000    

Long Beach Harbor Revenue Refunding-Series A (FGIC Insured)††

   Aaa   AAA   05/15/13   6.000   5,509,750
  5,000    

Los Angeles Community College District Refunding-Election 2001-Series A (FSA Insured)

   Aaa   AAA   08/01/25   5.000   5,150,700
  9,000    

Los Angeles Community College District Refunding-Election 2001-Series A (FSA Insured)

   Aaa   AAA   06/01/26   5.000   9,257,760
  6,000    

Los Angeles County Sanitation Districts Financing Authority Revenue-Capital Projects-District No.14-Subseries B (FGIC Insured)

   NR   AAA   10/01/28   5.000   6,146,940
  8,475    

Los Angeles County Sanitation Districts Financing Authority Revenue-Capital Projects-Series A (FSA Insured)

   Aaa   AAA   10/01/20   5.000   8,765,947
  3,000    

Los Angeles Unified School District-Series A (FSA Insured)

   Aaa   AAA   07/01/20   5.250   3,171,030
  11,625    

Los Angeles Wastewater System Revenue Refunding-Subseries A (MBIA Insured)

   Aaa   AAA   06/01/26   5.000   11,890,515
  5,000    

Los Angeles Water & Power Revenue-Power System-Series A-Subseries A-2 (MBIA-IBC Insured)

   Aaa   AAA   07/01/30   5.000   5,091,600
  6,000    

Los Angeles Water & Power Revenue-Power System-Series B (FSA Insured)

   Aaa   AAA   07/01/25   5.000   6,149,520
  4,260    

Metropolitan Water District Waterworks Revenue-Series B-3 (MBIA Insured)

   Aaa   AAA   10/01/17   5.000   4,474,108
  5,000    

Metropolitan Water District Waterworks Revenue-Series B-3 (MBIA Insured)

   Aaa   AAA   10/01/29   5.000   5,111,550
  7,160    

Oxnard Financing Authority Wastewater Revenue-Redwood Trunk Sewer & Headworks-Series A (FGIC Insured)

   Aaa   AAA   06/01/34   5.250   7,463,799
  10,000    

Sacramento County Sanitation District Financing Authority Revenue Refunding (AMBAC Insured)

   Aaa   AAA   12/01/27   5.000   10,156,300
  7,000    

Sacramento Municipal Utility District Electric Revenue-Municipal Utility District-Series R (MBIA Insured)

   Aaa   AAA   08/15/19   5.000   7,254,170
  5,000    

Sacramento Municipal Utility District Electric Revenue-Municipal Utility District-Series R (MBIA Insured)

   Aaa   AAA   08/15/33   5.000   5,092,700
                             



Insured Municipal Income Fund Inc.
SCHEDULE OF INVESTMENTS — June 30, 2006 (unaudited)
                             
                             
Principal                        
Amount       Moody’s   S&P   Maturity Interest  
(000) ($)       Rating   Rating   Dates Rates (%) Value ($)
Long-Term Municipal Bonds—(continued)                    
California—(concluded)                    
  4,000    

San Francisco City & County Airports Commission International Airport Revenue Refunding-Second Series 27B (FGIC Insured)

   Aaa   AAA   05/01/15   5.250   4,202,040
  7,910    

San Jose Libraries, Parks & Public Safety Project (MBIA Insured)

   Aaa   AAA   09/01/27   5.000   8,096,043
  9,000    

San Jose Unified School District Santa Clara County-Election 2002-Series B (FGIC Insured)

   Aaa   AAA   08/01/29   5.000   9,217,530
  3,825    

Walnut Energy Center Authority Revenue-Series A (AMBAC Insured)

   Aaa   AAA   01/01/34   5.000   3,872,736
                            139,191,606
District of Columbia—2.09%                    
  4,000    

District of Columbia Hospital Revenue Refunding-Medlantic Healthcare-Series A (Escrowed to Maturity) (MBIA Insured)

   Aaa   AAA   08/15/14   5.750   4,088,280
  2,000    

Metropolitan Washington, D.C. Airport Authority Airport System Revenue-Series A (MBIA Insured)††

   Aaa   AAA   10/01/16   5.250   2,114,220
                            6,202,500
Florida—12.47%                    
  8,000    

Florida State Board of Education-Capital Outlay-Series E (FGIC Insured)

   Aaa   AAA   06/01/24   5.000   8,180,880
  10,220    

Florida State Board of Education-Public Education-Series A (FSA Insured)

   Aaa   AAA   06/01/27   5.000   10,423,174
  1,060    

Hillsborough County Port District Revenue-Tampa Port Authority Project-Series A (MBIA Insured)††

   Aaa   AAA   06/01/16   5.750   1,138,005
  1,115    

Hillsborough County Port District Revenue-Tampa Port Authority Project-Series A (MBIA Insured)††

   Aaa   AAA   06/01/17   5.750   1,197,053
  1,175    

Hillsborough County Port District Revenue-Tampa Port Authority Project-Series A (MBIA Insured)††

   Aaa   AAA   06/01/18   5.750   1,261,468
  1,240    

Hillsborough County Port District Revenue-Tampa Port Authority Project-Series A (MBIA Insured)††

   Aaa   AAA   06/01/19   5.750   1,331,252
  10,000    

Miami-Dade County Aviation Revenue Refunding-Miami International Airport-Series B (XLCA Insured)††

   Aaa   AAA   10/01/18   5.000   10,290,400
  3,000    

Miami-Dade County Expressway Authority Toll System Revenue-Series B (FGIC Insured)

   Aaa   AAA   07/01/26   5.250   3,160,440
                            36,982,672
Georgia—7.63%                  
  11,545    

Atlanta Airport Revenue Refunding-Series D (FGIC Insured)††

   Aaa   AAA   01/01/15   5.250   12,091,194
  1,015    

Columbus Building Authority Lease Revenue-Series A (FGIC Insured)

   Aaa   AAA   01/01/16   5.250   1,083,807
  15    

Georgia Municipal Electric Authority Power Revenue-Series Y (Escrowed to Maturity) (MBIA-IBC Insured)

   Aaa   AAA   01/01/10   10.000   17,904
                             



Insured Municipal Income Fund Inc.
SCHEDULE OF INVESTMENTS — June 30, 2006 (unaudited)
 
 
Principal                                  
Amount         Moody’s     S&P     Maturity   Interest    
(000) ($)         Rating     Rating     Dates   Rates (%)   Value ($)
Long-Term Municipal Bonds—(continued)
Georgia—(concluded)
  4,515    

Georgia Municipal Electric Authority Power Revenue-Unrefunded Balance-Series Y (FSA-CR Insured)

     Aaa     AAA     01/01/10     10.000     5,380,886
  3,410    

Georgia Municipal Electric Authority Power Revenue-Unrefunded Balance-Series Y (MBIA-IBC Insured)

     Aaa     AAA     01/01/10     10.000     4,063,970
                                      22,637,761
Illinois—4.16%
  1,500    

Chicago General Obligation-Series A (FSA Insured)

     Aaa     AAA     01/01/25     5.000     1,531,980
  2,000    

Chicago General Obligation-Series A (FSA Insured)

     Aaa     AAA     01/01/26     5.000     2,040,100
  740    

Chicago General Obligation-Series A (Pre-refunded with US Government Securities to 01/01/11 @ 101) (MBIA Insured)

     Aaa     AAA     01/01/14     5.500     793,095
  260    

Chicago General Obligation-Unrefunded Balance-Series A (MBIA Insured)

     Aaa     AAA     01/01/14     5.500     277,103
  4,500    

Illinois Health Facilities Authority Revenue-Franciscan Sisters Health Care-Series C (Escrowed to Maturity) (MBIA Insured)

     Aaa     AAA     09/01/18     5.750     4,995,900
  2,395    

Metropolitan Pier & Exposition Authority Dedicated State Tax-Series A-2002 (Pre-refunded with US Government Securities to 06/15/19 @ 100) (FGIC Insured)

     Aaa     AAA     12/15/23     5.500     2,704,218
                                      12,342,396
Indiana—2.08%
  1,000    

Indiana University Revenues-Student Fee-Series O (FGIC Insured)

     Aaa     AAA     08/01/18     5.250     1,054,010
  5,000    

Indianapolis Airport Authority Revenue Refunding-Special Facilities-Fed Ex Corp. Project (Federal Express Co. Insured)††

     Baa2     BBB     01/15/17     5.100     5,101,250
                                      6,155,260
Maine—1.63%
  4,785    

Maine Health & Higher Educational Facilities Authority Revenue-Series A (Escrowed to Maturity) (FSA Insured)

     NR     AAA     07/01/23     5.500     4,823,471
Massachusetts—1.73%
  5,000    

Massachusetts Health & Educational Facilities Authority Revenue-Harvard University-Series B

     Aaa     AAA     07/15/32     5.000     5,139,050
Michigan—1.89%
  5,525    

Michigan State Hospital Finance Authority Revenue Refunding-Trinity Health Credit-Series D

     Aa3     AA-     08/15/25     5.000     5,605,555
Missouri—1.70%
  1,740    

St. Louis Airport Revenue-Capital Improvement Program-Series A (MBIA Insured)

     Aaa     AAA     07/01/15     5.375     1,839,458
                                       



Insured Municipal Income Fund Inc.
SCHEDULE OF INVESTMENTS — June 30, 2006 (unaudited)
 
 
Principal                                  
Amount         Moody’s     S&P     Maturity   Interest    
(000) ($)         Rating     Rating     Dates   Rates (%)   Value ($)
Long-Term Municipal Bonds—(continued)
Missouri—(concluded)
  2,035    

St. Louis Airport Revenue-Capital Improvement Program-Series A (MBIA Insured)

     Aaa     AAA     07/01/16     5.375     2,149,103
  1,000    

St. Louis Airport Revenue-Capital Improvement Program-Series A (MBIA Insured)

     Aaa     AAA     07/01/18     5.375     1,056,890
                                      5,045,451
Nevada—3.90%
  4,000    

Washoe County Gas & Water Facilities Revenue Refunding-Sierra Pacific Power Co. Project-Series B (MBIA Insured)

     Aaa     AAA     06/01/23     5.900     4,053,680
  7,500    

Washoe County Water Facilities Revenue Refunding-Sierra Pacific Power Co. Project-Series A (MBIA Insured)

     Aaa     AAA     06/01/23     5.900     7,511,850
                                      11,565,530
New Jersey—8.27%
  3,150    

New Jersey Economic Development Authority Revenue-Cigarette Tax (FGIC Insured)

     Aaa     AAA     06/15/09     5.000     3,236,121
  20,000    

New Jersey Transportation Trust Fund Authority-Transportation System-Series A

     A1     AA-     12/15/20     5.250     21,274,200
                                      24,510,321
New Mexico—2.89%
  4,130    

University of New Mexico Revenues-Hospital Mortgage (FSA-FHA Insured)

     Aaa     AAA     01/01/23     5.000     4,236,761
  4,230    

University of New Mexico Revenues-Hospital Mortgage (FSA-FHA Insured)

     Aaa     AAA     07/01/23     5.000     4,339,345
                                      8,576,106
New York—23.89%
  3,000    

New York State Dormitory Authority Revenues-Memorial Sloan Kettering Center-Series 1 (MBIA Insured)

     Aaa     AAA     07/01/16     5.000     3,120,300
  640    

Long Island Power Authority Electric System Revenue-Series A (Pre-refunded with US Government Securities to 06/01/08 @ 101) (FSA Insured)

     Aaa     AAA     12/01/22     5.125     661,850
  1,360    

Long Island Power Authority Electric System Revenue-Series A-Unrefunded Balance (FSA Insured)

     Aaa     AAA     12/01/22     5.125     1,397,754
  5,650    

Metropolitan Transportation Authority Dedicated Tax Fund-Series A (FSA Insured)

     Aaa     AAA     11/15/24     5.250     5,957,812
  4,000    

Metropolitan Transportation Authority Revenue-Series A (FGIC Insured)

     Aaa     AAA     11/15/17     5.000     4,176,320
  5,000    

New York City General Obligation-Series G (AMBAC Insured)

     Aaa     AAA     08/01/17     5.000     5,241,950
  6,000    

New York City General Obligation-Series O

     A1     A+     06/01/24     5.000     6,081,660
  5,000    

New York City General Obligation-Series J-Subseries J-1

     A1     AA-     06/01/27     5.000     5,058,300
  4,615    

New York City General Obligation-Subseries F-1

     A1     AA-     09/01/25     5.000     4,682,517
                                       



Insured Municipal Income Fund Inc.
SCHEDULE OF INVESTMENTS — June 30, 2006 (unaudited)
 
 
Principal                                  
Amount         Moody’s     S&P     Maturity   Interest    
(000) ($)         Rating     Rating     Dates   Rates (%)   Value ($)
Long-Term Municipal Bonds—(continued)
New York—(concluded)
  1,710    

New York City Industrial Development Agency Special Facilities Revenue-Terminal One Group Association Project ††

     A3     BBB+     01/01/07     5.000     1,717,404
  5,000    

New York City Industrial Development Agency Special Facilities Revenue-Terminal One Group Association Project ††

     A3     BBB+     01/01/15     5.500     5,277,700
  6,685    

New York City Industrial Development Agency Special Facilities Revenue-Terminal One Group Association Project ††

     A3     BBB+     01/01/16     5.500     7,070,123
  2,750    

New York City Industrial Development Agency Special Facilities Revenue-Terminal One Group Association Project ††

     A3     BBB+     01/01/18     5.500 ‡   2,882,687
  7,000    

New York City Municipal Water Finance Authority Water & Sewer System Revenue-Series C (MBIA Insured)

     Aaa     AAA     06/15/26     5.000     7,193,200
  10,080    

New York City Municipal Water Finance Authority Water & Sewer System Revenue-Series C (MBIA Insured)

     Aaa     AAA     06/15/27     5.000     10,343,290
                                      70,862,867
North Carolina—2.13%
  3,505    

Charlotte Certificates of Participation Refunding-Convention Facilities Project-Series A (MBIA Insured)

     Aaa     AAA     08/01/12     5.000     3,666,545
  2,500    

North Carolina Eastern Municipal Power Agency Power System Revenue Refunding-Series A

     Baa2     BBB     01/01/12     5.500     2,650,650
                                      6,317,195
Ohio—1.76%
  5,000    

Cleveland Airport System Revenue-Series A (FSA Insured)

     Aaa     AAA     01/01/14     5.250     5,217,500
Pennsylvania—5.34%
  15,390    

Allegheny County Sanitation Authority Sewer Revenue Refunding-Series A (MBIA Insured)

     Aaa     AAA     12/01/23     5.000     15,843,851
South Carolina—10.99%
  2,500    

Medical University of South Carolina Hospital Authority Hospital Facilities Revenue Refunding-Series A (MBIA-FHA Insured)

     Aaa     AAA     02/15/25     5.250     2,605,550
  1,000    

Myrtle Beach Water & Sewer Revenue System Refunding (FGIC Insured)

     Aaa     AAA     03/01/15     5.375     1,068,990
  20,000    

South Carolina Public Service Authority Revenue-Santee Cooper-Series A (MBIA Insured)

     Aaa     AAA     01/01/25     5.000     20,625,800
  8,180    

South Carolina Transportation Infrastructure Bank Revenue-Series A

     Aaa     NR     10/01/33     5.000     8,293,293
                                      32,593,633
                                       



Insured Municipal Income Fund Inc.
SCHEDULE OF INVESTMENTS — June 30, 2006 (unaudited)
                             
                             
Principal                        
Amount       Moody’s   S&P   Maturity Interest  
(000) ($)       Rating   Rating   Dates Rates (%) Value ($)
Long-Term Municipal Bonds—(concluded)                              
Texas—18.31%
  7,015    

Austin Water & Wastewater System Revenue Refunding (MBIA Insured)

     Aaa     AAA     05/15/29     5.000     7,140,779
  5,170    

Fort Bend Independent School District Refunding-Series A (PSF-GTD)

     NR     AAA     08/15/26     5.250     5,406,372
  13,500    

Houston Utility System Revenue Refunding-First Lien-Series A (FGIC Insured)

     Aaa     AAA     05/15/23     5.250     14,180,400
  7,000    

Houston Utility System Revenue Refunding-First Lien-Series A (MBIA Insured)

     Aaa     AAA     05/15/25     5.250     7,334,390
  2,000    

Irving Independent School District Refunding-Capital Appreciation-Series A (PSF-GTD)†

     Aaa     AAA     02/15/12     4.960 #   1,579,120
  2,000    

Jefferson County General Obligation Refunding (FGIC Insured)

     Aaa     AAA     08/01/20     5.250     2,099,660
  155    

San Antonio Water Revenue (MBIA Insured)

     Aaa     AAA     05/15/16     6.000     157,933
  720    

San Antonio Water Revenue (Pre-refunded with US Government Securities to 05/15/07 @ 100) (MBIA Insured)

     Aaa     AAA     05/15/16     6.000     794,102
  6,110    

Texas A&M University Permanent University Fund Refunding

     Aaa     NR     07/01/17     5.250     6,446,417
  60    

Williamson County General Obligation-Unrefunded Balance (FSA Insured)

     Aaa     AAA     02/15/17     5.500     63,472
  9,000    

Wylie Independent School District Refunding (PSF-GTD)

     Aaa     AAA     08/15/30     5.000     9,084,510
                                      54,287,155
Washington—3.30%                              
  5,210    

Washington State Public Power Supply Revenue Refunding-Systems Nuclear Project No. 2-Series A (Escrowed to Maturity) (MBIA Insured)

     Aaa     AAA     07/01/11     6.550 #   4,231,875
  2,220    

Cowlitz County School District No. 458 Kelso (FSA Insured)

     Aaa     NR     12/01/15     5.750     2,410,476
  1,000    

Cowlitz County School District No. 458 Kelso (FSA Insured)

     Aaa     NR     12/01/18     5.750     1,080,450
  2,000    

Energy Northwest Electric Revenue-Columbia Generator Station-Series F (MBIA Insured)

     Aaa     AAA     07/01/18     5.000     2,063,140
                                      9,785,941
Wisconsin—0.41%                              
  1,105    

Ladysmith-Hawkins School District Refunding (FGIC Insured)

     Aaa     NR     04/01/20     5.500     1,201,378
Total Long-Term Municipal Bonds (cost—$491,009,376)                             484,887,199
Short-Term Municipal Notes—3.10%                              
Missouri—3.10%                              
  5,100    

Missouri Health & Educational Facilities Authority Educational Facilities Revenue-St. Louis University-Series A (MBIA Insured)

     VMIG-1     A-1+     07/03/06     3.850 *   5,100,000
  4,100    

Missouri Health & Educational Facilities Authority Health Facilities Revenue-Cox Health Systems (AMBAC Insured)

     VMIG-1     A-1+     07/03/06     3.970 *   4,100,000
Total Short-Term Municipal Notes (cost—$9,200,000)     9,200,000



Insured Municipal Income Fund Inc.
SCHEDULE OF INVESTMENTS — June 30, 2006 (unaudited)
 
 
  Value ($)
Total Investments (cost—$500,209,376)(1)(2)—166.60%     494,087,199  
Other assets in excess of liabilities—4.21%     12,479,998  
Liquidation value of auction preferred shares—(70.81)%     (210,000,000 )
Net Assets applicable to common shareholders—100.00%     296,567,197  

*   Variable rate demand notes are payable on demand. The maturity dates shown are the next interest rate reset dates. The interest rates shown are the current rates as of June 30, 2006.
#   Interest rate shown reflects yield to maturity at purchase date for zero coupon bonds.
†   Partial amount pledged as collateral for futures transactions.
††   Security subject to Alternative Minimum Tax.
‡   Floating rate security. The interest rate shown is the current rate as of June 30, 2006.
(1)   Cost of investments shown approximates cost for federal income tax purposes. Gross unrealized appreciation of investments and gross unrealized depreciation of investments at June 30, 2006 were $1,666,676 and $7,788,853, respectively, resulting in net unrealized depreciation of investments of $6,122,177.
(2)   The Fund calculates its net asset value based on the current market value, where available, for its portfolio securities. The Fund normally obtains market values for its securities from independent pricing sources and broker-dealers. Independent pricing sources may use last reported sale prices, current market quotations or valuations from computerized “matrix” systems that derive values based on comparable securities. A matrix system incorporates parameters such as security quality, maturity and coupon, and/or research and evaluations by its staff, including review of broker-dealer market price quotations, if available, in determining the valuation of the portfolio securities. If a market value is not available from an independent pricing source for a particular security, that security is valued at fair value as determined in good faith by or under the direction of the Fund’s Board of Directors (the “Board”). Various factors may be reviewed in order to make a good faith determination of a security’s fair value. These factors may include, but are not limited to, the type and cost of the security; contractual or legal restrictions on resale of the security; relevant financial or business developments of the issuer; actively traded similar or related securities; conversion or exchange rights on the security; related corporate actions; and changes in overall market conditions. If events occur that materially affect the value of securities (particularly non-US securities) between the close of trading in those securities and the close of regular trading on the New York Stock Exchange, the securities are fair valued. The amortized cost method of valuation, which approximates market value, generally is used to value short-term debt instruments with sixty days or less remaining to maturity, unless the Board or its delegate determines that this does not represent fair value. Securities traded in the over-the-counter (“OTC”) market are valued at the last bid price available on the valuation date prior to valuation.
 
AMBAC —  American Municipal Bond Assurance Corporation
CR —  Custodial Receipts
FGIC —  Financial Guaranty Insurance Company
FHA —  Federal Housing Authority
FSA —  Financial Security Assurance
GTD —  Guaranteed
IBC —  Insured Bond Certificate
MBIA —  Municipal Bond Investors Assurance
NR —  Not Rated
PSF —  Permanent School Fund
XLCA —  XL Capital Assurance
 
Futures Contracts                      
                                 
                                 
  Number of       In   Expiration   Unrealized  
  Contracts                           Contracts to Deliver   Exchange For ($)   Dates   Appreciation ($)  
    75    

US Treasury Bond 20 Year Futures

     8,020,031     September 2006     20,812    
    225    

US Treasury Note 10 Year Futures

     23,683,922     September 2006     90,563    
 
                            111,375    

For more information regarding the Fund’s other significant accounting policies, please refer to the Fund’s annual report to shareholders dated March 31, 2006.

Item 2. Controls and Procedures.

  (a)  
The registrant’s principal executive officer and principal financial officer have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (“Investment Company Act”)) are effective based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this document.
       
  (b)  
The registrant’s principal executive officer and principal financial officer are aware of no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the registrant’s last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 3. Exhibits.

  (a)  
Certifications of principal executive officer and principal financial officer of registrant pursuant to Rule 30a-2(a) under the Investment Company Act is attached hereto as Exhibit EX-99.CERT.


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Insured Municipal Income Fund Inc.

By:   /s/ W. Douglas Beck  
   
 
    W. Douglas Beck  
    President  
       
Date:   August 18, 2006  
   
 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By:   /s/ W. Douglas Beck  
   
 
    W. Douglas Beck  
    President  
       
Date:   August 18, 2006  
   
 
       
By:   /s/ Thomas Disbrow  
   
 
    Thomas Disbrow  
    Vice President and Treasurer  
       
Date:   August 18, 2006