@Ravi Gaurav 

Yes, I meant the same in my explanation that heartbeat monitoring is useful but is not responsible for load balancing or failover.

When MID server takes a job from ServiceNow and if it fails before responding with payload, in-flight job will not be automatically transferred to cluster MID node and the job will be updated with status error/failed. We need to manually re-run the job or setup auto retry mechanism for such scenarios. For these functionalities, MID Server Heartbeat monitoring, heartbeat failure events and automated retry logic would be helpful.

Thanks,

Bhuvan