The Qualified Longevity Annuity Contract, or QLAC, is a 'game changer’ worth exploring, said Stan Haithcock, author of 'The Annuity Stanifesto.' A QLAC is a unique type of longevity annuity that can be used in qualified plans like a 401k or Traditional IRA. A Longevity Annuity is a fixed annuity that guarantees a future income stream at a date you specify. Haithcock said QLACs should be used primarily for lifetime income needs starting at a future date specified at the time of application. Haithcock said younger workers with 401k plans that offer a QLAC choice should definitely consider adding it to their asset allocation in order to guarantee an income stream in the future.