Longevity payer swaption (or put swaption)
\lɒnˈʤɛvɪti\ \peɪə\ \swaption\
A that allows the original payer of the floating leg of the underlying longevity swap the option to pay the fixed leg and receive the floating leg.
\lɒnˈʤɛvɪti\ \peɪə\ \swaption\
A that allows the original payer of the floating leg of the underlying longevity swap the option to pay the fixed leg and receive the floating leg.