[omniglottal]

Some customers would throw a fit if they paid a renewal fee after scheduling cancellation - for good, legal reasons. Some customers would throw a fit if a cancellation scheduled >1 year ago resulted in random emails getting deleted (imagine the last photo taken of a lost family member being in those emails). Between both options, neither is appealing. It seems as though the current option is best, but I do like your suggestion too: the best of both options, with the risk of something lost (subscription money) being replaceable/refundable in the event of an honest error.