...I was wondering what the lifespan of a turbo is?
The string reply may have seemed to be nothing but a wise guy comment, but in truth it is most applicable. When treated well, a turbocharger will last until rust destroys the castings. If not fed a constant diet of good oil or is caused to ingest solid objects of any size, its lifetime can be measured in seconds.
... it can't last forever.
Well, that depends on how you define forever. They will last a good bit longer than you think it will as long as it is cared for well and not abused.
What, the preemptive replacement? Sure. If you have nothing better to do with $900 and some time. Me, I always have better things to do with large chunks of cash, even if they only sit in my bank account for reasons of "just in case". (That's the only one left since banks refuse to pay interest anymore.)
From my understanding, if a turbo blows it can destroy the engine. Is this true?...
Sure. But so can the lowly oil pan drain bolt or a rock run over haphazardly that also takes out the oil pan or a coolant line. There's zillions of hazards out in the real world, you can't guarantee that any particular action will protect you from all of them, and at some point you have to get on with life.
Heck, you can crack an oil line, or install it badly and instantly tooef a brand spanking new turbocharger when you are installing it, too. There's hazards everywhere!!
My advice is to not worry about it unless it actually does fail or if you decide you want a massive increase in performance that requires new induction plumbing.
Cheers!
PH