SuiteCRM is a generic program, you have to adapt it to fit your needs.
There are many ways to map SuiteCRM concepts to your business needs, so you will probably want to try several options before you decide.
For example, you can create a task to notify someone of the expiry after one year (this can be made manually, or automatically via a Workflow). Or you can simply keep the dates in the License’s records and generate a Report of upcoming expirations.
You can play with these things on the live demo, or in your own installation if you have installed it already.
If the basic functionality isn’t good enough, you can develop some simple PHP to extend it.