A big thanks to Suzuka (togepi_forever) for keeping us updated!
Getting Neopets Premium does not mean you can’t get frozen. If you get frozen, Neopets Premium doesn’t automatically cancel. You will be paying for it unless you cancel it. It is possible to switch it to another account, however.
Neopets Premium users do not have access to special parts of the site (besides the Portal and Premium Boards) or special pets.