The licenses we sell are always for the entire product, meaning all possible updates. For example, if you today buy a one year license, that license will be valid for one year and include all possible product updates and new versions we release during that time without any additional fees or costs. Similarly, the lifetime license also includes all possible product updates without any additional fees.
(In the past, we used a different licensing model, similar to what Microsoft does with Windows. When you buy Windows 7, you got Windows 7, and you get all the updates for it as long as Microsoft produces them. But you do not get a free update to Windows 10. But that is in the past. Now all product updates and new releases are included as long as your current license is still valid, and in the case of the lifetime license, that means free product updates for life.)