Does the MS Office Home & Student for Mac license include all future updates?

Per the MS Office Home & Student for Mac description in the Apple Store website, " All-new upgrades are included, so you’ll always have the latest versions and applications. ". Please confirm if this license includes all future Office updates, so we will "... always have the latest versions..." Thanks.

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    Office 2016 only supplies one year of updates. To receive latest version updates subscribe to Office 365 personal.

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