It is the same - you can cancel - or ignore to let it renew.
We will not cancel all your games, that would be very mean spirited, but we request that you do not abuse this fact in the last days of your subscription if you choose to cancel.
Any more questions let me know.
Oh, and everyone will receive an email prior to any further billing, regardless of if it is a monthly or an annual sub. But with a monthly, if you want to cancel, please let me know ASAP.