In most cases your subscription will not be automatically cancelled. Your subscription will be automatically migrated to Funimation, where you will be able to manage your subscription. There are only two instances where your account will be automatically cancelled:
- If you have a paid subscription on both AnimeLab and Funimation, then your AnimeLab subscription will be automatically cancelled (does not apply to subscriptions through Apple - if you are subscribed through Apple, you will need to manually cancel your AnimeLab subscription to avoid getting double-billed).
If you are using Telstra carrier billing to pay for your subscription, it will be cancelled automatically. If you subscribed through the Telstra app but used a credit card, your subscription will not be automatically cancelled.