Yes, one-time purchase with "lifetime upgrades" covers the software's lifespan, though this means software's lifetime—not the user's personal lifespan—which is industry-standard wording.
To create a bootable USB: launch EaseUS Todo Backup, click “Tools” > “Create Emergency Disk,” select “Create a bootable USB,” and follow the on-screen prompts. easeus todo backup full
The full version supports granular backup scheduling options: that execute incremental backups upon system startup. Yes, one-time purchase with "lifetime upgrades" covers the