The Principal Financial Group, seeking to help small business owners who face increasing financial pressure, is holding its rates on several employee benefits for customers with 50 or fewer employees.

Small businesses with 50 or fewer employees, with renewal dates from July 1 through Jan. 31, 2010, will have no rate increase on life, vision, short-term and long-term disability coverage. Dental coverage will increase by 3%, which company officials say is lower than the industry average.

About 31,000 employers nationally will see cost savings because the price increases have been cancelled, the company said. On average, a customer with three lines of coverage will save about $1,200, according to the insurer.

“Often it’s the smallest businesses who feel the biggest impact when times are tough,” said Amy Friedrich, vice president of specialty benefits for the Principal Financial Group, in a statement. “We recognize these businesses are struggling with shrinking budgets and pressure to maintain quality benefits for their employees. Like those employers, we realize taking care of our customers is crucial, which is why we’re offering a significant saving to help during these difficult times.”