I wouldn't say it's normal, inertia switch should last the life of the truck.
You can use a jumper wire to by-pass that switch, to see if it's the problem.
I assume you have a no start condition.
There is also a Fuel pump relay that does fail with age.
In your '94 it should be located in or under the power distribution box in the engine compartment.
Open the box if you don't see the square box relays inside then they will be under the box.
It is easier if you remove the screws holding the box to get easier access under it, the Green connector is the Fuel Pump relay.
If you use a voltage tester on the 4 connectors for the relay you can find the ground pin, the ECM pin, the 12v pin and the out to fuel pump pin, if you jump the 12v pin to the out to pump pin the fuel pump should start, assuming inertia switch is passing voltage.
If pump works then relay is probably bad.
There are cheap relays that can last a few months to a year and there is the Ford relay, which has lasted 19 years, choice is yours.