FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person *   Full Value Advisors LLC 2. Date of Event Requiring Statement (Month/Day/Year) 04/27/2009 3. Issuer Name and Ticker or Trading Symbol INSURED MUNICIPAL INCOME FUND INC [PIF] (Last) (First) (Middle) PARK 80 WEST, PLAZA TWO, SUITE 750 4. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director __X__ 10% Owner _____ Officer (give title below) _____ Other (specify below) 5. If Amendment, Date Original Filed(Month/Day/Year) (Street) SADDLE BROOK, NJ 07663 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Beneficially Owned

1.Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5) Common Stock (1) 2,124,913 I (1)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.			SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Full Value Advisors LLC PARK 80 WEST, PLAZA TWO SUITE 750 SADDLE BROOK, NJ 07663	Â	  X	Â	Â

Signatures

Phillip Goldstein		05/29/2009
**Signature of Reporting Person		Date
Andrew Dakos		05/29/2009
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 5(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	These shares may be deemed to be owned indirectly by Full Value Advisors LLC (and its affiliated entities and principals, Andrew Dakos, Phillip Goldstein and Steve Samuels), an investment manager with voting and/or investment discretion for various limited partnerships that are members of a 13d group. Full Value Advisors LLC and its principals disclaim beneficial ownership of these shares for purposes of filing form 4 except to the extent of any pecuniary interest therein, which pecuniary interest is currently applicable to less than 10% of the outstanding common stock of the issuer.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, See Instruction 6 for procedure.

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