A 'lifetime license' means that after you buy the software, you can use the purchased version for as long as you want, providing that the machine you use it on meets the initial program system requirements. This kind of license also includes free updates and bug fixes but doesn't include an upgrade to the next major release.
This license will continue to work with the cameras, operating systems, and third-party software products which are listed as supported by this version. This will continue into the foreseeable future unless or until it becomes necessary to discontinue support in order to maintain the high quality of our technical support for our current products and versions.