No. No material lasts forever and your feet can change. If you weight 300 pounds, your orthotics may only last a year. If you run marathons or play soccer every day they might last a year as well. If you use them every day but don't beat on them too much, they will probably last 3 to 4 years. Bottom line: the average custom orthotic lasts about 4 years.
P.S. Over-the-counter arch supports last 6-12 months.