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Can i use my sim on another phone?

I have this phone that is under my parents (they are also paying the phone bill) and i was wondering if i could use this sim card on another phone.

Ex. This iPhone 7 is what they got me (may or may not be fully paid off) 

If i buy an iPhone 11 (unlocked) off of amazon, will i be able to remove the sim card and insert it in the new iPhone 11? or will the sim card be locked to just this specific iPhone 7?

thanks a bunch in advance (i also apologize if this is a dumb question)

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