Going to take this one step further. Although BobTheElectrician has already answered, just wanted to simplify the answer.
If you sim-unlock the phone, this will allow you to use your phone with any carrier. It will not change when your device receives updates.
If you unlock the bootloader and void the warranty, you can root the phone, flash a rom (example Lineage OS) and use the latest Android 7.1.1 with features that Samsung wish you never had. Warning: this is not for everyone given that if you don't know what you're doing, you risk bricking your phone, and Koodo will not do anything about it.