why wouldn't it last ? It's an LED, not a flash bulb like on the older phones. LED have a very long life expectancy.(7 years irc)
LED's do not generate heat. You wire a resistor in series with them to ensure that the voltage they see never goes above a certain level, and this controls whether they heat up or not. An LED *should* have virtually limitless lifespan, and it is more likley that the other components of the circuit will give way before any LED will.