Correct....
But then you can just use iTunes (if you get another iPhone) or iSync, missing sync, pocketmac, bitpim, etc (if you get most other phones) to re-sync your contacts.
Maybe if you explain why you're concerned about this, we can help you find a workaround?
Ten years ago, I totally understood the value of putting contacts on a SIM. But today, I have some 700 contacts, most of whom have multiple e-mail addresses, phone numbers, etc. All that stuff isn't going to fit on a SIM anyway, is it?