A firewall isn't sufficient on its own to guarantee security, but it is the first line of defence.
However, a firewall provides limited or no protection:
If you give permission for other computers to connect to yours.If it is switched off, disabled or contains many exceptions or open ports.Against most viruses.
Against spam.Against spyware installations.
Against any kind of fraud or criminal activity online.
If you or a virus has created a back door through the firewall.If a hacker has the password for the firewall.
Against people with physical access to your computer or network.Against malicious traffic that does not travel through it, for example via a poorly configured wireless network.
Against attacks after a network has been compromised.
Against traffic that appears to be legitimate.
None of these things give a reason NOT to install a firewall, however. It's like wearing a seatbelt in a car: it's a good idea but it won't guarantee your safety if you crash.
It is safest to assume that your internet service provider does NOT provide any kind of firewall and make sure you have the right software to protect yourself.