Hi Jennifer and Tom.
When you purchase an add-on, you’ll have access to the latest version (including automatic updates in wp-admin if you install your license key) for 1 year.
After 1 year, your pre-existing / already installed add-on will continue to function with whatever version you have installed.
You will not have access to future version updates after this time period.
Posting to this forum (our only method of support) will not be permitted if your license expires.
You should receive a license renewal email in advance of your expiration date. If you renew prior to expiration (1 year), you should receive a significant discount — but, yes, you do need to renew to continue receiving access to the latest add-on version and the premium support forums.
Reference: https://theeventscalendar.com/knowledgebase/renewing-your-license/
Last but not least, we have a pretty great Refund Policy so you can buy one or many of our add-ons and thoroughly test them.
Let me know if you have any follow-up questions.