Is this a one-time payment for Single Theme Plan?
With the purchase of pro theme you can use the downloaded theme zip file for lifetime. No restrictions on that. This purchase includes new version updates and premium support access for one year. After one year, in order to get access automatic theme updates and premium support you have to renew your license. However, this is completely optional and not an automatic payment. The license can be renewed at a reduced rate (50%) for the next year.
Do I have to renew each year for your products to work?
Absolutely not! our WordPress Themes/Plugins will continue to work after a year. All premium features will work fine. Our annual fees are there so we can continue to provide updates and outstanding support.