On my old Ford, I had the dealer do the "lifetime" waxy undercoating. It was crap.
It literally is a wax, that they spray on and sport reapply yearly. It only protects from one side, the outside, so if water or moisture gets in from the inside (ie rocker panels or inside doors, it won't do you any good). I started getting rust on the bottom seam of my doors and the reply from the company was that it wasn't covered, since it was my duty to inform them if any of the undercoating was damaged... Yeah, ok, you can still see the fresh scrape marks from, where your tech scraped it off.
Another thing, I've heard is that, if water/moisture is trapped between the coating and the part, it holds it in and won't allow it to evaporate, thus causing more rust.
The DND did a study way back when. Corrosion Free came out on top, but most Corrosion Free dealers are tied with Canadian Tire. There is no way, I'm letting anyone at CanTire touch my vehicle.
Krown came in second. Most are owner/franchisees and only do rust proofing. So that's their specialty, especially if they have been established for long periods of time.
I've tried the waxy one and the Ford started rusting at the rocker panels and door bottoms after 8 years. The under vehicle stuff started getting real bad after 13. But I stopped getting "inspected" after the 8 year fiasco.
I've got 2 sprays down with Krown on the Ram. I can't say if it working or not it's going to have to be a wait and see thing.
Here is the DND study.
http://cradpdf.drdc-rddc.gc.ca/PDFS/unc53/p526285.pdf