Load Balancing + Failover/Fallback Possible?

[RA2024]

In Asus' routers with the "Dual Wan" feature (such as the RT-AX300 I am planning to buy), you can only configure it to do either "Load Balancing" or "Failover/Fallback" but not both. I have seen other daul-WAN routers which are able to use both. I would like to have both on. However, someone told me that you don't need to have "Failover/Fallback" on if you are using "Load Balancing". Here is his logic: "Load Balancing" use both connections, so, if one connection fails, all the traffic would simply have no choice but to go through the remaining connections. And when the down connection recovers later on, it will naturally let traffic through again. So it is this sense, it is virtually the "Failover/Fallback" function. This all seems very logical, but is it true in reality.? Anyone has any real world experience with Asus' Dual-WAN routers?