UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                                Washington, D. C.
                            SCHEDULE 14A INFORMATION

Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934
                                (Amendment No. )

Filed by the Registrant [ X ]
Filed by a Party other than the Registrant [     ]
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 under Rule 14a-12

                        Financial Industries Corporation
                (Name of Registrant as Specified In Its Charter)
                ________________________________________________
(Name of Person(s) Filing Proxy Statement, if Other Than the Registrant)
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            pursuant to Exchange Act Rule 0-11 (set forth the amount on which
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The  Registrant   provided  the  following  statement  to  participants  in  the
InterContinental  Life  Corporation  Employees  Savings and Investment  (401(k))
Plan:
                        Financial Industries Corporation
                           6500 River Place Boulevard
                               Austin, Texas 78730
                                  June 30, 2003

         Notice to Participants in the InterContinental Life Corporation
                 Employees Savings and Investment (401(k)) Plan

Dear 401(k) Plan Participant:

This letter and the enclosed proxy materials are being sent to you in connection
with the Annual  Meeting of  Shareholders  of Financial  Industries  Corporation
("FIC")  because you are a  participant  in  InterContinental  Life  Corporation
Employees  Savings and Investment  Plan (the "401(k) Plan") and a portion of the
assets in your 401(k) Plan account are held in shares of FIC common stock.

                  YOUR VOTE AT THE ANNUAL MEETING IS IMPORTANT.

Enclosed  in this  mailing  is a WHITE  proxy  card that  lists the  individuals
nominated by FIC's Board of Directors. To vote for these nominees, please follow
the instructions outlined below for the WHITE proxy card.

In order to direct the  trustees  of your  401(k) plan to vote the shares of FIC
stock held on your behalf in the 401(k) plan for the  individuals  nominated  by
FIC's Board of Directors,  you must return the enclosed  WHITE proxy card in the
enclosed  postage-paid  reply  envelope no later than 5:00 p.m.  Eastern Time on
Tuesday,  July 29, 2003.  Your voting  instructions  will be  transmitted to the
trustees so as to permit the trustees to vote the shares at the Annual Meeting.

Your proxy voting  instructions will apply to shares held in your 401(k) account
as of June 25, 2003, the record date for the Annual Meeting.

If you also hold  shares of FIC stock  outside  of your  401(k)  plan,  you will
receive a separate set of proxy  materials to enable you to vote the shares held
in your individual capacity. The proxy card enclosed with this mailing cannot be
used to vote the shares held in your individual capacity; it may only be used to
direct the  trustees  to vote the shares  held on your  behalf  under the 401(k)
plan.  The trustees  will vote the shares held in the 401(k) plan on your behalf
in accordance with your instructions on the enclosed proxy card.

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                                           Sincerely,


                                           Eugene E. Payne
                                           Chairman, President and
                                           Chief Executive Officer


This release may contain "forward-looking  statements" within the meaning of the
United States Private Securities Litigation Reform Act of 1995. These statements
are  based on  management's  current  expectations  and are  subject  to  risks,
uncertainty  and  changes  in  circumstances,  which may cause  actual  results,
performance or  achievements  to differ  materially  from  anticipated  results,
performance or achievements.  Investors are reminded that these  forward-looking
statements  must be considered in conjunction  with the cautionary  warnings and
risk-factors  which are detailed in the  Company's  most recent Annual Report on
Form 10-K ,  Quarterly  Report on Form  10-Q,  and its  other  filings  with the
Securities and Exchange Commission. FIC is under no obligation to (and expressly
disclaims any such obligation to) update or alter its forward-looking statements
whether as a result of new information, future events or otherwise.

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