"Lifetime license." Not lifetime upgrades. Purchased versions do not expire. The subscription plan offers regular upgrades, for a monthly fee.
From https://www.nchsoftware.com/videopad/versions.html
VideoPad Video Editor Versions
To find out what version of the software you are currently using, click Help on the menu bar at the top of the program's window (not the Help button on the toolbar), and then click "About VideoPad Video Editor".
Please be aware if you purchased more than 6 months ago you may need to purchase an upgrade to use the current version. For upgrade pricing go to https://www.nch.com.au/upgrade/index.html with your old registration ID number and Key.
If you want to try the current version with the option to restore your older version, please backup your Program Files sub folder containing the software for Windows, or copy the app from your Applications folder to a backup location for Mac OS