Lifting the suspension can allow you to put on bigger tires, so in an indirect way it does raise your lowest point (usually differentials). Aside from improving approach and departure angles, it also improves breakover angle. That may be more of a help for a truck with a camper, depending on where you travel.
Lifts usually translate to more suspension travel, which is great for offroading but less great for hauling near-capacity payload. Plenty of people haul campers with lifts, though, so it's just a consideration and certainly not a deal breaker. Just make sure the suspension is stiff enough to maintain your payload rating.
I got a 2500 so I didn't have to make aftermarket mods, but this brings up another downside: the tailgate is higher than my belly when it's down. So putting a lift on your F-150 would make the camper a little harder to get into...just something to plan on if you decide on the lift.
I have a 3" lift on my Wrangler and I like it...just didn't want to do it to my truck.