You should allow good air circulation to prolong its lifespan, and I don't think keeping it under your blankets is a great idea 🙂
I have worked with electrical engineers, who have introduced me to the concept of a .6 (60%) safety factor. This means that in any design, you include tolerances more than 60% above what is required for safety. I have no double Apple has done this too. This means things like if your device will spontaneously combust at 500 degrees, make it break at 250 degrees, and the like.
The only time you need to be really worried is with goods that are counterfeit (like some Apple batteries and power supplies from eBay). The rest of the time, you're likely to find very good safety factors in them 🙂