The camera flash option isn't the same thing though.Either you re-evalutate your use of the iPhone, get an Android phone, or continue to miss notifications. Dropping everything to display your lock screen so you don't miss meetings is something you have the time to spend 30 seconds on.
But he doesn't want to check notifications when he walks away from his phone. It's really just a veiled excuse to complain about the lack of LED notification system in the iPhone. Now that the camera light notification option has been shown to him, we'll see what excuse he comes up with next.
A very small LED that is not bright at all would be very low power in usage and would likely not really have a noticeable impact on battery life even if it was in use often.Develop a habit of checking your phone often if work, business or family demands it.
As a Galaxy Note 3 user.... Switching to android for the led lights is simply not worth it. I use my phone in a similar manner as you but ultimately the LEDs do drain battery when I constantly have 6 different LED colors in rotation going off.
Developing a better habit for phone use will save you on battery and peace of mind.