As Gator stated, yes and no. They DO believe that only 144,000 have a heavenly hope, and they do not believe in Hell. However, all of the faithful (those alive at the time) will survive the great war of Armageddon and live forever on a paradise Earth. Those that have died will be resurrected and given the chance to prove their worthiness (judgement) to live on a perfect Earth, forever.
Yes and no. They believe that 144,000 people will go to heaven and the rest will just be annihilated, no hell for them.
Jehovah's Witnesses believe what the bible says about life after death. In today's religious climate the word resurrection has all but disappeared. The thinking that man has an immortal soul does away with the need of a resurrection.
At Acts 24:15 the bible says "And I have hope toward God, which hope these men also look forward to, that there is going to be a resurrection of both the righteous and the unrighteous"
If I don't believe in air does it not exisit any more?