Shannow is right. It's all about the bell curve. The further from the center, the less likely it is you have one of those parts. But it can't be predicted, and that's the problem.
As for what to do about it, you just have to balance the costs. If a failure will grenade the engine, it will more likely pay to replace it more often. If a failure will strand you 1000 miles from home, same thing. If its a grocery getter and you have AAA towing, it probably pays to wait until it fails or until you have to change something else related.
As for failures, I've only ever had one fail on me. 1978 Dodge Omni. My grandmother bought it new, yadda, yadda, yadda, I got it in 1991. It had 40,000 miles on it. Timing belt failed same way it did for someone else- driving along at cruising altitude and it just dropped dead. Same deal too, enough teeth fell off that it was spinning on the crank. Thankfully, a friend's dad was a shadetree kind of guy and fixed it for me. I "helped" and I think he charged me $40. Coolest thing I've ever seen- dude tore into that engine like a madman and had me back on the road in two hours I think.
Meanwhile, now I'm driving a 18 year old Dodge with 213,000 miles. I changed the t-belt at 140,000 and the darn thing looked practically new.