As the title says,

In Work we have an @live.com email account and we use Windows live mail 2012 (Build 16.4.3528.0331) to access emails.

we have recently received the following email from *** Email address is removed for privacy ***

Dear user, 
In a few weeks, we will be making some changes to our email services that might impact your @outlook.com, @hotmail, @live or @msn email account. These changes will prevent your email from being delivered to the Windows Live Mail 2012 application that you use. 
In order to continue using Windows Live Mail 2012 to send and receive email for your account, you need to install the latest update published here. 
If you use Windows Live Mail 2012 on Windows 8, Windows 8.1 or Windows 10, we recommend that you switch to the built-in Mail app in Windows to stay connected and get the latest feature updates on Windows 8, Windows 8.1 and Windows 10. 
Windows Live Essentials 2009 and 2011 are not supported any more, and you will need to update to Windows 8/8.1 or Windows 10 and use the Mail app, or use www.outlook.com. To learn more about the Mail app, please click here. 
We also recommend all Windows Live Mail users on Windows 7, Windows 8 and Windows 8.1 to upgrade to Windows 10 and use the built-in Mail application to stay connected and get the latest feature updates. 
We suggest saving this email so you can refer to it later. 
Thank you for your understanding and continued use. 
Yours sincerely,
The Outlook team.

I decided to try and sign into the email account in an internet browser and received the following error message: That Microsoft account doesn’t exist. Enter a different account or get a new one.

We are still using windows live mail without issues, We can send and receive emails.

Any advice on if the emails account can be received?