Best to check turbo if you suspect it`s on way out. This really is a case when prevention is better than cure. Turbos can be running with a slightly seal for a long while, but when they let go they do so instantly, and often spectacularly!
To check for wear: look for increased oil consunption; blue smoke from exhaust; let engine warm up, then tick-over for ten min.,then push throttle, blue smoke=poss problem; take off air hose (from filter) where it enters turbo, you`ll find it`s damp2 with oil, ok, but if dripping wet=prob., try and wiggle impellor with finger, any detectable movement=prob; any sign of impellor blades touching body is v. bad; take hose off trunking over top of engine again bit black is normal but dripping with oil is bad; listen to turbo, any sounds of screeching as blades rub against body=prob.
Obviously you don`t have to do all the above, and only do the sticking of fingers into the turbo bit when engine is cold! Assuming good air filters with no ingress of foreign objects into inlet, and above all good quality oil regularly changed ther should be no worries, but read on for a true horror story...
The oil feed to turbos is a large high pressure feed, necessary to lube, and cool the turbo as its components soak up heat from exhaust gases. When a turbo lets go the engine prob won`t stop but keep running. don`t try to limp on for 3 reasons, 1. the engine sump will soon empty; no oil broken engine. 2. bits of turbo may find way thro intercooler into engine itself. 3. the oil will run into the intercooler. Read on.
After a turbo went on a Volvo truck I was driving it was successfully! changed at the roadside. still had oil on dipstick, so all looked ok to start engine. started ok, no leaks or noises, but a bit of smoke from exhaust. the mechanic gave the engine some more revs. the engine spun up well, too well, started overrevving, tried turning off on the key to no effect, couldn`t put into gear to stall it as cab was tilted. the engine revveduntil there was a loud bang and a pool of water appeared under truck... The engine had been running un controlably on the lube oil sucked thro` the intercooler! Automatic owners take note!
Obviously not an everyday occurance but a warning none the less. p.s. after a lot of fuss the garage doing the turbo did repair the engine but, not without a lot of squeaking!