That already exists, if all hell breaks loose for some reason you can talk to your credit card company and request that subscription be stopped. Asking for a new card does the same. Chargebacks also exist and is actually a handy way to get your account removed entirely as lots of companies hate chargebacks.

Also both Visa and Mastercard have their own rules that apply to subscription services, for example Visa requires services that allow signing up for a subscription to be easily cancelled online. So if you run into great issues there, call up Visa!