I used to think that some of these were harmless and silly, after all, who would believe them? After seeing a story on the news about a man who was tricked out of thousands of dollars, and then kidnapped overseas, I realise that it can be very serious...
Be very aware of any emails asking you to verify or forward your personal information, name, address, phone, bank account... ESPECIALLY your bank account.
No company actually pays you to forward their emails, however someone is probably gaining from confirming valid email addresses to forward you more spam.
AOL and Microsoft are not tracking email addresses and are not going to pay you for how many people you forward chain letters to; neither is hotmail going to close your account if you don't.
While there are some true emails about babies/children/families in need, most are fake, even the lovely photos that tear at your heart strings.
The same goes for many missing persons... However, take the time to check these before you decide not to forward them as some are genuine, and they really count.
Here are some great articles and tips from the net to help you spot the hoaxes, and verify the true emails:
How To Spot An Email Hoax - Guide To Recognizing Hoaxes
on hoax-slayer.com, article by Brett M. Christensen
How to identify and avoid hoax or fraudulent e-mail scams
on Microsoft.com
Virus and E-mail Hoaxes
on Network Startup Resource Center
How To Spot An Email
on hubpages.com by sunseven