There is an option to allow Members to retain access to a Level until the next scheduled bill date after they have Cancelled payment.
This would allow the Members to still access the protected content within that Level until the Next Bill Date.
As an example, if you have an annual Level set to automatically charge the Members each year in Stripe, you could allow Members to retain access to the Level for the remainder of that year if they cancel before the Next Bill Date.
You would need to Uncheck the option in the Setup > Integrations > Payment Providers > Stripe > Configure > Settings section in WishList Member:
Setting: “Immediately cancel Stripe Subscription and Level in WishList Member when the user cancels their subscription via the Stripe Profile Shortcode”
Unchecking that option would allow the Member to retain access to the Level until the next scheduled bill date. (If they cancel payment before the next scheduled bill date through the Stripe Profile that can be inserted on a page using the Stripe Profile Shortcode)
More info on the Stripe Profile Shortcode.