This is a little bit of a hack but it's similar to Adobe and eBay subscriptions. I had too many Office 365 subscription licenses so I decided to cancel one when it was close to expiry. I received a message that says Microsoft can stop billing for 2 months if I choose not to cancel. Worth giving it a try as you can potentially save $20+ if on monthly billing. Furthermore you can still cancel after you accept the extension.
Screenshot of deal: https://i.imgur.com/g5eL1Qn.png