If I cancel my Premium membership, do I lose the benefits instantly?

[vitaeultra]

In the event that I cancel my Premium subscription, do I lose the benefits - L$ stipend, free home - right away or do they remain until the next billing period?

[Lindal Kidd]

You keep all your Premium benefits EXCEPT those related to land.  You can't own Mainland, or a Linden Home, or donate tier to a group, but all other benefits keep going until the expiration of your Premium subscription.