No, it is not good to elect a President for life. But it is certainly better to hold regular elections after a fixed tenure, which should be of five years. The reasons are given below:
(i) Rulers elected by the people can take a final decision on all the major issues.
(ii) Such elections offer a choice and fair opportunity to the people to change the current rulers.
(iii) This choice and opportunity is available to all the people on an equal basis.
(iv) The exercise of this choice leads to a government limited by basic rules of the constitutional and citizen's right.
Thus, we can say that holding regular elections after a fixed tenure ensure healthy government.