Hello Andrew,
I went over a similar process recently, so I can speak from the experience :)
In general, deleting the Microsoft Tenant won't affect your account (your outlook.com email, other Microsoft services connected to it, ...)
Deleting the entire tenant (not just a subscription) requires some clean-up first. For example, you need to have everything paid first and no outstanding debt. You need to delete all other users and leave just one Global Administrator. If the account was synchronized, you need to stop the synchronization. You need to delete all the Apps. Etc. After that, it's all good :)
Deleting the tenant will then remove it, you won't be able to see it under AAD Admin Center anymore. But your account will stay and continue to function as usual.
I hope this answered your question :) If it did, please select it as an acceptable answer.
Vukasin