It is very cheap insurance. I built 3 engines last year due to water pump failures. Also, if the impeller starts to come apart, you may have to take the engine apart to find the pieces because they can stop up the cooling passages and kill a engine. </p>
I have a manyFACTORY manuals and almost every one of them states to replace the impeller every 100hrs or every year. The water pump for a 04 150 is the same one that is used all the way back to 1976 when mercury introduced the first V-6. So even if it is a 87 model, it will still apply of being replaced annually because it is the same pump. OF COURSE this is suggested by the manual. I have seen people go for years with no issues. I do mine yearly and sometimes will go two years at most. Just my .02 </p>
If you want a manual that covers 92-00 135-225 Pro maxl, PM me. </p>