Yes, but black & white film is much more stable than color film and if printed on acid free paper can last at least a century and a half. I still have an original photo of my great-great grandfather taken in 1850. It is in perfect condition.
One thing to consider is that ultimately the negatives will be scanned and processed in Photoshop, or something similar. This is a huge advantage. So long as enough detail is preserved, you can adjust the print you make to look great. Sharp, crisp, evenly exposed after post processing, it can look as good as if it were taken yesterday. I have taken old prints from the 1880 that are faded almost to nothing, Scanned them in color, and adjusted the levels for each color separately. The results are astonishing.