The engine can be the last thing to go, if you are good about checking and changing your oil.
If you let the oil run low, or let it sludge up, or don't promptly detect a cooling system leak [1], that will damage the bearings, and then it is only a matter of time before it dies.
[1] Some engines can have the head gasket start to leak, which lets coolant into the combustion chamber (which is bad). Worse are the engine designs that integrate the water pump into the engine block. If the water pump leaks (which they often do, it drips coolant directly into the oil, which is super bad.
An external water pump, in contrast, will just leak on the outside of the engine onto the ground. In either case, the coolant will run low, and eventually the engine will overheat. However, in the external pump case, you can just fix the leaky pump, and assuming you didn't try to run it overheated, you're fine.
But with an internal water pump, by the time the coolant has run low, you've severely degraded the oil too, and likely damaged the bearings. In addition, replacing the internal pump usually means dropping the entire engine out of the vehicle, which is far more costly.
Thus endeth my rant on water pumps.