Alright, so no waterproof jacket is going to last a lifetime if you're using it outdoors in harsh conditions, however I think Paramo comes closer than any other (and include a lifetime guarantee). The main reason being that Paramo garments do not have a waterproof membrane. That sounds odd doesn't it! But these jackets usually get called "extremely waterproof" when reviewed. My one hasn't let a drop through and I've been in some pretty bad conditions up mountains in scotland and wales.

So, because there is no waterproof membrane, it can't wear out. With a normal membrane like gortex, once it gets a pinprick hole or it wears at a joint, that's it. Generally gortex jackets will last about 2 or 3 years of hard use. With Paramo, they say that you can take a pin and prick it all over and you still won't get wet. If you rip it, you can just sew it up with normal thread and it will be just as waterproof as before. The waterproofness comes from the fabric behaving like "mammal fur" (although personally I think this is more of a marketing blurb than a real analogy). Anyway the fabric works to push the water outwards, and when combined with regular waterproofing treatment, the result is something that is incredibly waterproof. So If I were to compare this with conventional membrane jackets, I would say

Pros - Extremely waterproof (as much or more than gortex) - Much more breathable (the fabric pushes water outwards) - Will last years and years and still be extremely waterproof - Lifetime guarantee

Cons - Heavier and warmer than gortex, especially the paclite variety (this isn't something you want to be wearing in the height of summer)

Anyway I've had mine for 2 years now and it's still going strong, I don't expect to buy another jacket for a long time. Paramo will also fix rips etc for a small fee and they will replace non-lifetime bits (like the velcro) for no charge.

http://www.paramo.co.uk/en-gb/index.php