That part number is OK as the top level SKU for IPS, URL Filtering and AMP for the 5516-X. There is a term license that goes along with it as well. Something like "L-ASA5516-TAMC-3Y" (or -1Y or -5Y depending on 1, 3 or 5-year term).
If you change over to run FTD then a different part number applies.
I'd recommend seriously considering FTD with CDO cloud-based management.