Yes. Points will expire within 12 months if your account has been inactive during this time period. Inactivity means that you have not earned or redeemed any points.
Example: I earn points January 1st, 2019 by liking Luxy Hair on Facebook and placing an order. For the next 12 months, however, I do not earn or redeem any further points. I do not redeem any vouchers or refer a friend that would otherwise earn me points. Come December 31st, 2019, any points I had in my account will expire.
If, however, I had redeemed a voucher for a new purchase in June 2019 (redeemed), or liked the Luxy Hair Instagram page (earned), my points would not be eligible for expiration again until June 2020.