Hello Eric,
Catastrophic engine failure will cause a lot of metal to circulate in the oil ruining the oil pump, main bearings and rod bearings. In this case the oil pump is always replace. Normally it will last the life of the engine, but as Al suggests it should be replaced during a major rebuild.
Worn main and rod bearigs cause excessive loss of oil as clearances grow beyound specs. Low oil pressure results. Worn cam bearings will cause some oil pressure loss also.
During a rebuild "Plasti-gauge" is used to check the clearances between the beaings and crankshaft. Too tight or too loose clearances can destroy a freshly rebuilt engine.