Apple's iCloud+ is cheaper. I pay $1/mo ($12/year) and that covers a few domains and a handful of email addresses with 50GB of storage. $3/mo ($36/year) will get you 200GB of storage and a family plan that lets you set up different accounts with different logins.

I think Microsoft 365 is a great value if you're looking for everything it offers - it includes Office, 1TB of storage per user, etc. Oh, one downside of Microsoft 365's custom domain email is that you have to use GoDaddy as your registrar: "Domain sold separately. You must maintain an active domain with GoDaddy to use this feature" (https://www.microsoft.com/en-gb/microsoft-365/p/microsoft-36...). So if you're using Cloudflare and paying $7.85 for a .com and need to move it to GoDaddy at $18.99, that's another $11.14/year, $0.93/month to use Microsoft 365.

I moved my email over to iCloud+ and I've been happy. It was easy to set up and pretty cheap at just a dollar.

Zoho is another option. $1/mo per user with 5GB of storage. It's less storage than iCloud+ and more money (and it's annual billing, not monthly), but you might like it better. Zoho also has a free plan that doesn't include IMAP access (and lets you use custom domains).

Note, these prices are USD. iCloud+ is $1.29 CAD for 50GB and $3.99 CAD for 200GB.