Yes, the license allows you to use the product indefinitely on your WordPress site. The fee also entitles you to support and updates for 12 months from the date of purchase.
After 12 months, the license will be renewed automatically (by subscription set up at the time of purchase) and you will continue to receive plugin updates and support access. If you choose to cancel the license, you are free to use the software; however, if you require support or updates after canceling and outside of the your active license end date, you would need to buy a new license at that point.
We believe this situation is better than a one-time purchase since you will receive updates beyond the purchase date – at least for a year – and it offers a sustainable position for support and continued product development in the future. A one-off purchase could easily leave you exposed and in need of a new solution a few months down the line.