I have fitted many thousands of red leds in kWh meters as potential indicators, to check if a phase failed, and a meter reader could report a blown fuse in case of CT meters.
That project started about 20 years ago and a lot of these meters are still in service 24/7, survived power surges and the LED's never failed.
Ok, most of these were the 20 and 15 y.o. type leds running at 5 mA at 240 Volts ac. via a 47 k ohm resistor 2W, a 1N4007 diode and a 1N4448 antiparrallel diode.
Now for indicator lights at streetlight and hotwater contactors in the poco, I fit 5000 or 10000 MCAD blue , red or white LED's as ON-OFF indication. same set up as above with no faillures.
These LED's are underdriven and last the time allright well past the 100,000hrs (11.4 years) with no visible reduction in brightness.