Of course not! you will still be able to use all the widgets and they will continue working as always. You just will not be able to download the new updates after the end of your subscription and you will not be able to access the new widgets and templates. You will have to purchase them individually.
The Premium Access includes all our Widgets and Templates from our online library. You will also have Priority Support and you will be able to download all the updates during the period you have chosen.