Hello and welcome!

Yes there is a way to do what you want, but it's not perfect.

From the main screen, select the applications menu (on the left below web and contacts), then Tools, Control Panel, then Display. Check "Show LED Lights".

The light will flash every few seconds, but the flashing gets more frequent if you receive an email. (And also a chat message).

Some people have said they've found having the light on decreases battery lifetime though...

Nick