Automatic link updating?

I was wondering if there exists a plugin that automatically updates hyperlinks found within the text of a post or page. For example, if my posts contain the words “hot dog”, is there any way to have “hot dog” always link to a specific page any time it appears? Or at least have the URL of the link update if the permalink is changed?

I’ll most likely be changing permalinks of my pages often as I’m trying maximize SEO, and it would be difficult hard to keep track of and update all the links in my posts & pages.

Any advice would be appreciated.