SCHEDULE 14A INFORMATION PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES EXCHANGE ACT OF 1934 (AMENDMENT NO. ) Filed by the Registrant [ ] Filed by a Party other than the Registrant [x] Bulldog Investors General Partnership Attn: Phillip Goldstein 60 Heritage Drive Pleasantville, NY 10570 Phone: 914 747-5262 Fax: 914 747-2150 Check the appropriate box: Preliminary Proxy Statement Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) Definitive Proxy Statement [x] Definitive Additional Materials Soliciting Material Pursuant to ss.240.14a-11(c) or ss.240.14a- 12 Insured Municipal Income Fund. Inc. (Name of Registrant as Specified in Its Charter) Bulldog Investors General Partnership Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check the appropriate box): No fee required [x]. Fee computed on table below per Exchange Act Rules 14a-6(i)(4) and 0-11. (1) Title of each class of securities to which transaction applies: (2) Aggregate number of securities to which transaction applies: (3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (Set forth the amount on which the filing fee is calculated and state how it was determined): (4) Proposed maximum aggregate value of transaction: (5) Total fee paid: Fee paid previously with preliminary materials []. Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11 (a) (2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing []. (1) Amount Previously Paid: (2) Form, Schedule or Registration Statement No.: (3) Filing Party: (4) Date Filed: SHAREHOLDERS URGED TO REPLACE INCUMBENT DIRECTORS OF INSURED MUNICIPAL INCOME FUND NEW YORK--(BUSINESS WIRE)-- Bulldog Investors General Partnership ("BIGP") today issued a response to the current board's announcement that it intends to submit a proposal to liquidate Insured Municipal Income Fund Inc. (the "Fund") (NYSE: PIF - News). On July 31, 2009, the Fund's incumbent directors announced their intention to propose the liquidation of the Fund if they are re-elected on August 12, 2009. In response to shareholders' criticism of the incumbents' motives, on August 4, 2009, the incumbents stated that they would seek to hold a shareholder meeting before the end of October 2009 to vote on the Fund's liquidation. BIGP continues to urge shareholders to replace the incumbent directors and vote to elect the BIGP nominees on the GREEN proxy form. Phillip Goldstein, a principal of BIGP commented: "After the incumbents have spent more than $1 million of the Fund's assets opposing any exit at NAV, shareholders should view their so-called plan for what it is -- a desperate and cynical last minute ploy to retain control of the Fund. Notably, they still have not said when any liquidation proceeds would be paid or what they will do to deliver NAV if the requisite shareholder vote is not obtained." In considering how to vote, shareholders should keep in mind the following points: .. The incumbents state that "payment of the liquidation proceeds will commence as soon as practicable." That could mean anything. In contrast, BIGP's nominees are committed to conduct a significant tender offer at or near NAV by the end of 2009. .. BIGP represents the largest shareholder of the Fund. Consequently, it is incentivized to promptly implement its plan to conduct a tender offer for the Fund's shares at or near NAV. By contrast, the incumbent directors own no shares of the Fund. The longer they can delay making a liquidation payment, the more board fees they will collect. .. The incumbents have no alternative plan to deliver NAV if the vote necessary to approve liquidation of the Fund is not obtained. Earlier this year the boards of directors of two closed-end funds managed by Deutsche Bank proposed that they liquidate. Both liquidation proposals failed to receive a sufficient number of votes. Each of these funds is currently trading at a discount in excess of 25%. If the incumbents' plan to liquidate fails, the Fund's discount is also likely to widen. .. BIGP's plan to implement a tender offer does not require a shareholder vote. In sum, if the incumbents are re-elected, there is a very real possibility that shareholders will not be able to realize NAV in a timely fashion -- if ever! Consequently, BIGP continues to urge shareholders to reject the incumbents' "Johnny-come-lately" liquidation plan and to vote for the BIGP slate of nominees on the GREEN proxy form. Shareholders who have questions about voting their shares may call BIGP's proxy solicitation firm, INVESTORCOM, INC. at (877) 972-0090. Contact: Bulldog Investors General Partnership, (201) 556-0092