Yes, and the Welcome Home includes many different kinds of Disney Trips. We, for example, used our upcoming
Disney Cruise.
The way it is done, it is unclear to me what happens if one cancels their future reservation. I believe the way the contract is written, it doesn’t require someone to actually honor the future reservation. I didn’t see anything in the actual contract that required that anyways, but maybe I missed it. When I called it was also very “on your honor” as far as I could tell, but maybe they did verify. They did not ask for any kind of confirmation number, just the dates and reservation information (which cruise, hotel, etc.)