Equity market turmoil is causing sleepless nights for one in three middle aged and older adults, says The Hartford.
The recent YouGov survey found 31 per cent of respondents were suffering poor sleep and increased stress levels as a result of recent market volatility.
Those aged 55 and over are feeling the greatest levels of anxiety, with 47 per cent saying they are stressed compared to 38 per cent in the 45-54 age group and 32 per cent in the 35-44 age group.
The Hartford found 21 per cent of respondents to the survey said they would willing to pay an annual fee in exchange for a guarantee that their pension savings would not fall, even if the market did.
Managing director, marketing and distribution John Enos says: “This survey demonstrates that a large part of investing is psychological – market volatility can cause investors to feel greater levels of stress or even lose sleep.
The survey was of a representative sample of 1,963 UK adults, interviewed on February 4-6.
“The guarantee available with The Hartford’s pension product, Hartford Platinum, called ‘guaranteed retirement income plan’ or GRIP, provides added security for clients as they know that their future pension income won’t fall if the markets fall.”