VANGUARD VARIABLE INSURANCE FUND
NSAR-A, 1997-05-22
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<PAGE>      PAGE  1
000 A000000 03/31/97
000 C000000 0000857490
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 VANGUARD VARIABLE INSURANCE FUND
001 B000000 811-5962
001 C000000 6106691000
002 A000000 100 VANGUARD BOULEVARD
002 B000000 MALVERN
002 C000000 PA
002 D010000 19355
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  9
007 C010100  1
007 C020100 MONEY MARKET PORTFOLIO
007 C030100 N
007 C010200  2
007 C020200 HIGH-GRADE BOND PORTFOLIO
007 C030200 N
007 C010300  3
007 C020300 EQUITY INDEX PORTFOLIO
007 C030300 N
007 C010400  4
007 C020400 BALANCED PORTFOLIO
007 C030400 N
007 C010500  5
007 C020500 EQUITY INCOME PORTFOLIO
007 C030500 N
007 C010600  6
007 C020600 GROWTH PORTFOLIO
007 C030600 N
007 C010700  7
007 C020700 INTERNATIONAL PORTFOLIO
007 C030700 N
007 C010800  8
007 C020800 HIGH YIELD BOND PORTFOLIO
007 C030800 N
007 C010900  9
007 C020900 SMALL COMPANY GROWTH PORTFOLIO
007 C030900 N
007 C011000 10
020 A000001 FRANK RUSSELL SECURITIES INC.
<PAGE>      PAGE  2
020 B000001 91-0604934
020 C000001     32
020 A000002 MERRILL LYNCH PIERCE FENNER & SMITH
020 B000002 13-5674085
020 C000002     22
020 A000003 INSTINET CORPORATION
020 B000003 13-3443395
020 C000003     21
020 A000004 SALOMON BROTHERS INC.
020 B000004 13-3082694
020 C000004     20
020 A000005 JAMES CAPEL SECURITIES-LONDON
020 C000005     18
020 A000006 BEAR, STEARNS & CO.
020 B000006 13-3299429
020 C000006     16
020 A000007 PAINEWEBBER INCORPORATED
020 B000007 13-2638166
020 C000007     16
020 A000008 UBS-LONDON
020 C000008     14
020 A000009 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP.
020 B000009 13-2741729
020 C000009     13
020 A000010 MORGAN STANLEY & CO., INC.
020 B000010 13-2655998
020 C000010     12
021  000000      436
022 A000001 THE VANGUARD GROUP, INC./POOLED CASH ACCT.
022 B000001 23-1945930
022 C000001    279097
022 D000001    265439
022 A000002 GOLDMAN SACHS & CO.
022 B000002 13-5108880
022 C000002    362414
022 D000002     11639
022 A000003 LEHMAN BROTHERS INC.
022 B000003 13-2518466
022 C000003    114154
022 D000003     14699
022 A000004 MERRILL LYNCH PIERCE FENNER & SMITH
022 B000004 13-5674085
022 C000004    102248
022 D000004     10729
022 A000005 J.P. MORGAN SECURITIES, INC.
022 B000005 13-3224016
022 C000005     94806
022 D000005       516
022 A000006 CS FIRST BOSTON CORP.
022 B000006 13-5659485
022 C000006     70741
<PAGE>      PAGE  3
022 D000006      1529
022 A000007 SBC WARBURG INC.
022 B000007 13-3340045
022 C000007     44834
022 D000007         0
022 A000008 CHASE SECURITIES INC.
022 B000008 13-3112953
022 C000008     30996
022 D000008      5077
022 A000009 MORGAN STANLEY & CO., INC.
022 B000009 13-2655998
022 C000009     31626
022 D000009      1415
022 A000010 BARCLAYS DE ZOETE WEDD
022 C000010     16520
022 D000010      9779
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023 D000000     368311
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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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<PAGE>      PAGE  7
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<PAGE>      PAGE  8
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<PAGE>      PAGE  9
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<PAGE>      PAGE  10
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<PAGE>      PAGE  11
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<PAGE>      PAGE  12
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<PAGE>      PAGE  13
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<PAGE>      PAGE  15
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<PAGE>      PAGE  17
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<PAGE>      PAGE  18
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SIGNATURE   GARY P. SOURA                                
TITLE       MANAGER             
 


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</TABLE>

<TABLE> <S> <C>

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</TABLE>

<TABLE> <S> <C>

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</TABLE>

<TABLE> <S> <C>

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<PAID-IN-CAPITAL-COMMON>                        141700
<SHARES-COMMON-STOCK>                            12276
<SHARES-COMMON-PRIOR>                            10371
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<INTEREST-INCOME>                                   57
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<EXPENSES-NET>                                     285
<NET-INVESTMENT-INCOME>                           2737
<REALIZED-GAINS-CURRENT>                          2805
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<NET-CHANGE-FROM-OPS>                            18687
<EQUALIZATION>                                     258
<DISTRIBUTIONS-OF-INCOME>                         1585
<DISTRIBUTIONS-OF-GAINS>                          1796
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<NUMBER-OF-SHARES-SOLD>                           2003
<NUMBER-OF-SHARES-REDEEMED>                        341
<SHARES-REINVESTED>                                244
<NET-CHANGE-IN-ASSETS>                           43633
<ACCUMULATED-NII-PRIOR>                           1559
<ACCUMULATED-GAINS-PRIOR>                         1836
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<AVERAGE-NET-ASSETS>                            167087
<PER-SHARE-NAV-BEGIN>                            13.71
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<PER-SHARE-GAIN-APPREC>                           1.51
<PER-SHARE-DIVIDEND>                              0.15
<PER-SHARE-DISTRIBUTIONS>                         0.17
<RETURNS-OF-CAPITAL>                                 0
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<EXPENSE-RATIO>                                   0.34
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000857490
<NAME> VANGUARD VARIABLE INSURANCE FUND
<SERIES>
   <NUMBER> 06
   <NAME> GROWTH PORTFOLIO
<MULTIPLIER> 1,000
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          SEP-30-1997
<PERIOD-START>                             OCT-01-1996
<PERIOD-END>                               MAR-31-1997
<EXCHANGE-RATE>                                      1
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<INVESTMENTS-AT-VALUE>                          355090
<RECEIVABLES>                                     2933
<ASSETS-OTHER>                                      30
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<PAYABLE-FOR-SECURITIES>                          5953
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<OTHER-ITEMS-LIABILITIES>                         1308
<TOTAL-LIABILITIES>                               7261
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<PAID-IN-CAPITAL-COMMON>                        262858
<SHARES-COMMON-STOCK>                            19688
<SHARES-COMMON-PRIOR>                            15679
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<NET-ASSETS>                                    350792
<DIVIDEND-INCOME>                                 2129
<INTEREST-INCOME>                                  405
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     630
<NET-INVESTMENT-INCOME>                           1904
<REALIZED-GAINS-CURRENT>                          7371
<APPREC-INCREASE-CURRENT>                         8156
<NET-CHANGE-FROM-OPS>                            17431
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                         2913
<DISTRIBUTIONS-OF-GAINS>                         11246
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                           3725
<NUMBER-OF-SHARES-REDEEMED>                        563
<SHARES-REINVESTED>                                847
<NET-CHANGE-IN-ASSETS>                           75190
<ACCUMULATED-NII-PRIOR>                           2770
<ACCUMULATED-GAINS-PRIOR>                        11202
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<PER-SHARE-NAV-END>                              17.82
<EXPENSE-RATIO>                                   0.39
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<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000857490
<NAME> VANGUARD VARIABLE INSURANCE FUND
<SERIES>
   <NUMBER> 07
   <NAME> INTERNATIONAL PORTFOLIO
<MULTIPLIER> 1,000
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          SEP-30-1997
<PERIOD-START>                             OCT-01-1996
<PERIOD-END>                               MAR-31-1997
<EXCHANGE-RATE>                                      1
<INVESTMENTS-AT-COST>                           164707
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<SHARES-COMMON-PRIOR>                            12681
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<PER-SHARE-NAV-BEGIN>                            12.74
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<EXPENSE-RATIO>                                   0.41
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000857490
<NAME> VANGUARD VARIABLE INSURANCE FUND
<SERIES>
   <NUMBER> 08
   <NAME> HIGH YIELD BOND PORTFOLIO
<MULTIPLIER> 1,000
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          SEP-30-1997
<PERIOD-START>                             OCT-01-1996
<PERIOD-END>                               MAR-31-1997
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<DISTRIBUTIONS-OF-GAINS>                            25
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<NET-CHANGE-IN-ASSETS>                           29785
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<AVERAGE-NET-ASSETS>                             36830
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<EXPENSE-RATIO>                                   0.34
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<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000857490
<NAME> VANGUARD VARIABLE INSURANCE FUND
<SERIES>
   <NUMBER> 09
   <NAME> SMALL COMPANY GROWTH PORTFOLIO
<MULTIPLIER> 1,000
<CURRENCY> US
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          SEP-30-1997
<PERIOD-START>                             OCT-01-1996
<PERIOD-END>                               MAR-31-1997
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<EXPENSE-RATIO>                                   0.45
<AVG-DEBT-OUTSTANDING>                               0
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</TABLE>


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