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"Lifetime warranties" are only good for the life of the company.
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True, as I have found out on a number of occasions.
My Montgomery Ward Refrigerator is getting long in the tooth, but since the demise of the company, the lifetime warranty is worthless.
The DMSI version of Montgomery Ward was not the same company as the original. The company did not honor obligations of the previous company, such as gift-cards and items sold with a lifetime guarantee. David Milgrom, then president of the firm, said in an interview with the Associated Press: "We're rebuilding the brand, and we want to do it right."
http://en.wikipedia.org/wiki/Montgomery_Ward