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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 SEaiQKq5QqgXDBQSF55T6CkR7w3xBoOY+jHXwKUCEF3hf+Bbe9se3U7aDBC7OVXf
 FDqQQssnD4DaM9kvudsZiA==

<SEC-DOCUMENT>0001261605-03-000002.txt : 20030902
<SEC-HEADER>0001261605-03-000002.hdr.sgml : 20030901
<ACCEPTANCE-DATETIME>20030902162306
ACCESSION NUMBER:		0001261605-03-000002
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030829
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:			WELLIVER JOHN
		CENTRAL INDEX KEY:			0001261605

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-04690
		FILM NUMBER:		03876609

	BUSINESS ADDRESS:	
		STREET 1:		6500 RIVER PLACE BLVD
		STREET 2:		BLDG I
		CITY:			AUSTIN
		STATE:			TX
		ZIP:			78730
		BUSINESS PHONE:		512 404 5110

	MAIL ADDRESS:	
		STREET 1:		8103 DAVIS MOUNTIAN PASS
		CITY:			AUSTIN
		STATE:			TX
		ZIP:			78726
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>fic_form3welliverex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<!-- - EDGAR Ease Plus 1.0                                   07/25/03  TT    -->
<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>3</documentType>
   <periodOfReport>2003-08-29</periodOfReport>
    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0000035733</issuerCik>
        <issuerName>FINANCIAL INDUSTRIES CORP</issuerName>
        <issuerTradingSymbol>FNIN</issuerTradingSymbol>
   </issuer>
   <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001261605</rptOwnerCik>
            <rptOwnerName>WELLIVER JOHN</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>6500 RIVER PLACE BLVD</rptOwnerStreet1>
            <rptOwnerStreet2>BLDG I</rptOwnerStreet2>
            <rptOwnerCity>AUSTIN</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>78730</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
         <isDirector>0</isDirector>
         <isOfficer>1</isOfficer>
         <isTenPercentOwner>0</isTenPercentOwner>
         <isOther>0</isOther>
         <officerTitle>Vice President &amp; Asst Secretar</officerTitle>
      </reportingOwnerRelationship>
   </reportingOwner>
 <nonDerivativeTable>
   <nonDerivativeHolding>
      <securityTitle>
         <value>Common Stock</value>
      </securityTitle>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>8392.154</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
            <value>I</value>
         </directOrIndirectOwnership>
         <natureOfOwnership>
            <value>401K Plan</value>
         </natureOfOwnership>
      </ownershipNature>
   </nonDerivativeHolding>
 </nonDerivativeTable>
 <derivativeTable>
   <derivativeHolding>
      <securityTitle>
         <value>Option (Right to Buy)</value>
            <footnoteId id="F1"/>
      </securityTitle>
      <conversionOrExercisePrice>
         <value>8.18</value>
      </conversionOrExercisePrice>
      <exerciseDate>
         <value>2002-11-01</value>
      </exerciseDate>
      <expirationDate>
         <value>2003-10-31</value>
      </expirationDate>
      <underlyingSecurity>
         <underlyingSecurityTitle>
           <value>Common Stock</value>
         </underlyingSecurityTitle>
         <underlyingSecurityShares>
           <value>4400</value>
         </underlyingSecurityShares>
      </underlyingSecurity>
      <ownershipNature>
         <directOrIndirectOwnership>
           <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </derivativeHolding>
 </derivativeTable>
   <footnotes>
      <footnote id="F1"> Granted under InterContinental Life Corporation 1999 Stock Option Plan; converted to shares of common stock of FNIN in connection with the May 18, 2001 merger of ILCO with FNIN.</footnote>
   </footnotes>
   <ownerSignature>
      <signatureName>John M. Welliver</signatureName>
      <signatureDate>2003-09-02</signatureDate>
   </ownerSignature>
</ownershipDocument>

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