Economic Relief for Small Business Owners
The Principal Financial Group is offering no rate increase for thousands
(Des Moines, Iowa) — In a period of time when small business owners face increasing financial pressure, the Principal Financial Group® has some good news for customers. The Principal® will offer a zero-percent rate increase on several employee benefits for customers with 50 or fewer employees.
"Often it's the smallest businesses who feel the biggest impact when times are tough. We recognize these businesses are struggling with shrinking budgets and pressure to maintain quality benefits for their employees," said Amy Friedrich, vice president of specialty benefits for the Principal Financial Group. "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."
An estimated 31,000 employers nationwide will see cost savings. On average, a customer with three lines of coverage will experience a savings of $1,200.
The Bottom Line
Small businesses with 50 or fewer employees, with renewal dates from July 1, 2009 through Jan. 31, 2010, will have no rate increase on life, vision, short-term and long-term disability coverage. In addition, there will be only a 3 percent increase for dental coverage, well below industry average.
"Insurance is a benefit employees structure their lives around. Keeping it available and affordable is a basic component to keeping a happy, productive and loyal workforce," said Friedrich.
For more information about employee benefit programs from The Principal, please contact your Principal Financial Group representative or visit www.principal.com
About the Principal Financial Group
The Principal Financial Group® (The Principal®) is a leader in offering businesses, individuals and institutional clients a wide range of financial products and services, including retirement and investment services, life and health insurance, and banking through its diverse family of financial services companies. A member of the Fortune 500, the Principal Financial Group has $247.0 billion in assets under management and serves some 19.1 million customers worldwide from offices in Asia, Australia, Europe, Latin America and the United States. Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG. For more information, visit www.principal.com.
Insurance products and services issues by Principal Life Insurance Company.