You will get OTA updates as long as your phone is running stock firmware and recovery and you have service with a SIM that matches the phone model (meaning you have a verizon sim in a verizon phone).
Thanks for the info, my phone is stock so I should be OK . I was just reading on Verizon website Volte isn't available for prepaid yet, so I won't expect that update, but I am interested in Lollipop