-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 KNDNn/jx17RKLgk+2xMEqPS41MWcex1z7rEnhJQWy4bvhPLI7IbvszRuDWGc2ObQ
 SnYD+FSModgrGh3lxcLIGw==

<SEC-DOCUMENT>0001261601-03-000002.txt : 20030902
<SEC-HEADER>0001261601-03-000002.hdr.sgml : 20030901
<ACCEPTANCE-DATETIME>20030902165345
ACCESSION NUMBER:		0001261601-03-000002
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030821
FILED AS OF DATE:		20030902

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FINANCIAL INDUSTRIES CORP
		CENTRAL INDEX KEY:			0000035733
		STANDARD INDUSTRIAL CLASSIFICATION:	LIFE INSURANCE [6311]
		IRS NUMBER:				742126975
		STATE OF INCORPORATION:			TX
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		LEGAL DEPARTMENT
		STREET 2:		6500 RIVER PLACE BLVD., BUILDING ONE
		CITY:			AUSTIN
		STATE:			TX
		ZIP:			78730
		BUSINESS PHONE:		512 404-5000

	MAIL ADDRESS:	
		STREET 1:		6500 RIVER PLACE BLVD., BUILDING ONE
		STREET 2:		LEGAL DEPARTMENT
		CITY:			AUSTIN
		STATE:			TX
		ZIP:			78730

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GOLDEN UNITED INVESTMENT CO STOCK PLAN
		DATE OF NAME CHANGE:	19731128

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ILEX CORP
		DATE OF NAME CHANGE:	19730801

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GOLDEN UNITED INVESTMENT CO
		DATE OF NAME CHANGE:	19730801

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			GUDEMAN RICHARD H
		CENTRAL INDEX KEY:			0001261601

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-04690
		FILM NUMBER:		03876804

	BUSINESS ADDRESS:	
		STREET 1:		2101 OAKWOOD AVE
		CITY:			BLOOMINGTON
		STATE:			IL
		ZIP:			61704

	MAIL ADDRESS:	
		STREET 1:		2101 OAKWOOD AVE
		CITY:			BLOOMINGTON
		STATE:			IL
		ZIP:			61704
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>fic_form3gudemanex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<!-- - EDGAR Ease Plus 1.0                                   07/25/03  TT    -->
<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>3</documentType>
   <periodOfReport>2003-08-21</periodOfReport>
    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0000035733</issuerCik>
        <issuerName>FINANCIAL INDUSTRIES CORP</issuerName>
        <issuerTradingSymbol>FNIN</issuerTradingSymbol>
   </issuer>
   <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001261601</rptOwnerCik>
            <rptOwnerName>GUDEMAN RICHARD H</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>2101 OAKWOOD AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>BLOOMINGTON</rptOwnerCity>
            <rptOwnerState>IL</rptOwnerState>
            <rptOwnerZipCode>61704</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
         <isDirector>1</isDirector>
         <isOfficer>0</isOfficer>
         <isTenPercentOwner>0</isTenPercentOwner>
         <isOther>0</isOther>
      </reportingOwnerRelationship>
   </reportingOwner>
 <nonDerivativeTable>
   <nonDerivativeHolding>
      <securityTitle>
         <value>None</value>
      </securityTitle>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>0</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
            <value>I</value>
         </directOrIndirectOwnership>
         <natureOfOwnership>
            <value>N/A</value>
         </natureOfOwnership>
      </ownershipNature>
   </nonDerivativeHolding>
 </nonDerivativeTable>
   <ownerSignature>
      <signatureName>Richard H. Gudeman</signatureName>
      <signatureDate>2003-08-22</signatureDate>
   </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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