I've always heard it was a "lifetime warranty", which indicates the warranty is bound to the gun, not its owner. And though I've never had to use Taurus' warranty (and I've owned 4 different Taurus guns for several years now), when I had to use Smith & Wesson's warranty, it took a couple of months just to get them to look at it. I suspect that most companies take their own sweet time on warranty work. Basically, the price is a steal, and if you've got enough patience to deal with the warranty return being glacial, I'd say you ought to go for it!