Your Coverage license is permanent and includes one year of free product updates from the date of purchase, including major upgrades.
You may use the version you purchased as long as you need without any additional fees. If we release an update within a year of your purchase, you get that update for free. Once the year is over, you may either keep using the version you have, or renew the license to continue receiving updates during the next year.
The license can be renewed within a year of the expiration date.