Worth noting: I'm not sure about Microsoft's procedures for shutting down an account the way Google did here, but they document what happens if you stop paying for it: https://docs.microsoft.com/en-us/office365/admin/subscriptio...

Basically it goes through Expired, Disabled, Deprovisioned. During Expired users have access, Disabled only Admins have access, Deprovisioned is gone. Those are usually 30/90 days but it varies by how you purchased.

Not sure about Personal/Home, but I suspect it's similar.