Can you upgrade the LG K20V android phone

After being a Tracfone customer for many, many years, I finally decided to move up to a "big boy" phone. I purchased the LG K20V from a Verizon store a few months ago, and it was running Nougat 7.0. I'm not well versed on the newest programs but I know that over the past few months, Android has released Nougat 7.1.2 and also Oreo 8.0. I have used the update feature on my phone (just this afternoon) but my software info still shows I have Nougat 7.0. I thought that with android phones through a carrier like Verizon, they would automatically update your phone when a new update was released (this was the problem I had with Tracfone in that I had Android Marshmallow 6.0 and the only way I could update my program was to buy a newer phone).

Should I assume that since my LG K20V has not updated to 7.1.2 or 8.0 that I'm stuck with Nougat 7.0 on my phone? I moved from Tracfone because I was tired of purchasing a new phone every time I wanted to update from 6.0 to 7.0 or 8.0. It would be disappointing to have this same scenario with the LGK20V and any updates. Any help would be greatly appreciated.

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