Totally..!!
All licenses are perpetual, meaning that you’ll still have a license and use the purchased item/product if you don’t renew your license.
This is a one-time purchase and once you buy our product you can use it for a lifetime.
Although, free updates & support duration are subject to the license you purchase.
For more details on what you get along with the package refer to the article: What's included in the purchased package?🧐
Only the Unlimited Use Licence offers lifetime free support and updates.
The rest of the licenses have it limited to 12 months, after that, you will have to renew the license key in order to get free updates and premium support.
You can easily extend/renew your support/license, refer: How can I Extend/Renew the support? 🔄