Carrier settings requirements...

[Willmegas]

Do I have to update? I really like my jail broken iPhone. Will I be able to jailbreak it again?

 

[chumawumba]

It doesn't affect your jailbreak. It is firmware, not software.

I did it myself and my jailbreak was unaffected.

 

[hexonxonx]

Some carrier updates will have a iOS firmware version requirement.

I didn't get one on my iPad until I upgraded to the latest version last week.

 

[darricksailo]

Do I have to update? I really like my jail broken iPhone. Will I be able to jailbreak it again?

If you update your iOS version, then you won't be able to rejailbreak

The exception would be the 3GS and 4 and even with that, it depends (for the tether, untether)

There could be ways around it but it would be helpful if you gave more information such as carrier, iOS version, current carrier version, and so forth