Features of M365 premium are as follows
Enjoy Office apps
Get the latest features and capabilities with fully installed and always up-to-date versions of Outlook, Word, Excel, PowerPoint for Windows or Mac, OneNote (features vary), and Access and Publisher (PC only).
Use 1 TB cloud storage per user
Edit and share documents, photos, and other files from anywhere on all your devices with 1 TB of OneDrive cloud storage.
Get email and calendaring
Use enterprise-grade email through Outlook with a 50 GB mailbox per user and send attachments of up to 150 MB.
Collaborate with instant messaging and online meetings
Get your team on the same page using group chat, online meetings, calling, and web conferencing with Microsoft Teams.