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Nope, think of PS+ as a long term rental for full games - If your membership lapses you can't access the game, if you renew it the game can be played again.
Stuff like DLC and dynamic themes are yours forever, as are games which are reduced in price for PS+ users, not completely free.
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"Critics are like eunuchs in a harem; they know how the Tatty 100 is done, they've seen it done every day, but they're unable to do it themselves." - Brendan Behan