The penalties can be devastating. For instance, Paul warns that some have died because they abused the Lord's Table. Covenant abuse can release covenant penalties. Presumption is a sin. Presumption causes us to assume that God's love will cover our willful abuse of His purpose and His grace.
Presumption brings punishment.
We must not believe that we are chosen for reasons of superiority. God's will is quite the opposite. This is a critical question. We must differentiate between fellowship and relationship. It is my belief, as it states in Hebrews 12, that He deals with us as sons and daughters, even when we stray.