Buying a domain name for life is somewhat of a tricky statement. It's tricky because "for life" does not necessarily mean until you die. When you have a domain name for life it means that you keep the domain name for the life of the domain name registrar. As long as the company remains in business, you keep your domain name. However, if the company goes out of business, your domain name goes with it. There are two ways to buy a domain for life. The first way is to buy only the domain. The second way is to buy web-hosting services.
Buy a Domain Name
Purchase a domain name through a domain registrar of your choice. This will cost $7 to $10 per year. The price will vary by domain registrar.
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Write down the exact date that you purchase your domain name. Put the date somewhere visible so you can remember it. If you like you can store the date on an electronic calendar.
Wait until it is almost time to renew your domain name, about 30 days before the name is set to expire. The expiration date for the domain name is exactly one year from the date you documented in the previous step. Log into your domain manager tool with the user name and password that was created when you purchased the domain name.
Select the option to "Renew" the domain name. You will have to enter valid credit card information to renew the domain for another year. Many domain name registrars offer allow you to select the "Recurring Payment" option. By selecting the recurring payment option, the cost for your domain renewal will be automatically deducted from your credit card each year.
Repeat steps 3 and 4 every year to keep your domain name for life.
Buy Web Hosting
Find a web-hosting provider that offers a domain for life when you choose a web-hosting package. A web-hosting package can cost you anywhere from $10 or more per month, depending upon the web hosting provider.
Choose the domain name that you want to have for life. This should be done during the time you sign up for web hosting.
Pay your web hosting bill on time each month. As long as you continue to pay your web hosting bill you will keep the domain for life.
Do not let your web-hosting account expire. Do not cancel your web-hosting service. If you let the account expire or if you cancel your service, you will lose the domain name as well.