Yes. Heat can shorten the life of your laptop. Normally the laptop takes care of the problem. The fan is controller by a heat sensor. But if it really gets hot it will shut down. Has that ever happened?
What do you have under the laptop? It should be a smooth surface that allows air flow. You can get an external fan to help keep it cool, but that shod not be needed. You can just use a cheap desk fan to help cool the back of the laptop.
At Walmart you can get a little fan the runs off the USB.
From Walmart.com: Desk Decor Plastic Shell PC Desktop Cooling USB Mini Fan Pink DC5V 2.5W now just $11.34 on sale.
Does that answer your question?