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I believe, but not sure of this, that the protection will only last about 30 days and then you'll find that updates will no longer be applied.
The best people to ask are Customer Service, see the following link (Change Country at top right if necessary): Consumer Customer Service (Accounts, Billing, Registration, etc.)
just few seconds ago I noticed a popup from McAfee Internet Security that tell me that it has extended the protection for a limited time (unspecified) along with the reminder of renewal.
Good. I wouldn't hang on to it for too long though as you need proper protection.