There is no requirement to use VLAN failsafe, it is used to trigger a failure condition in the event that F5 detects a loss in network activity on a given VLAN.
It is not the most graceful of HA detection methods but can be useful in some environments.
Vlan failsafe is slow, the minimum timeout is 10 seconds which is unacceptable in many environments.
I would recommend looking at HA Groups/Fast Failover as you can have a more granular failure scenario, such as pools going down or the loss of a default gateway. It uses a scoring mechanism and will failover more quickly than traditional methods such as VLAN failsafe.
Manual Chapter: Understanding Fast Failover
K16947: Best practices for the HA group feature