According to the information in the WhatsApp FAQ page, users of WhatsApp who refuse to accept the new privacy conditions will be able to use the app for 120 days. However, its functionality will be limited during this time. Users will be able to receive calls and notifications for a short time, but will not be able to read or send messages from the app.
WhatsApp will delete account if the terms are not accepted in 120 days
If users do not accept the new privacy conditions in 120 days after May 15, then WhatsApp will delete that user accounts. All WhatsApp chats and groups of these accounts will also be lost. If you want to use WhatsApp with the same phone number after this, then you have to create a new account and start from scratch. But for this also, you have to accept new privacy terms first.
Trying to remove confusion related to WhatsApp privacy
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