There is a concept in the insurance biz called rescission. It’s the insurance world’s equivalent of a marriage annulment, allowing an insurance company to back out of an already-paid insurance policy and deny the policy holder insurance coverage. If you have a serious medical problem, you stand a better than even chance of losing your insurance and never getting paid. And if you don’t work for a major company or the government with a good group policy, your chances go up to virtually 100 percent.