You are seeing this option because you had a paid account during the power failure of January 14, 2005. As a way to thank our paid users for their patience and understanding, we're offering a free 14 day extension on all affected paid accounts.
http://www.livejournal.com/misc/claim-2005-01.bml
http://www.livejournal.com/misc/claim-2005-01.bml