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No, but it’s common that they do. Gravity furnaces weren’t terribly efficient so wrapping either the ductwork in asbestos, the furnace itself, or both, was something done regularly. This allowed the system to retain more heat. At the time, this greatly enhanced the efficiency of the furnaces but it wasn’t until later that we became aware of just how carcinogenic and dangerous asbestos could be.

It is strongly advised not to touch or disturb asbestos-containing materials unless necessary. Asbestos fibers can be released into the air when the material is damaged or disturbed, posing serious health risks if inhaled. It is best to leave any handling of asbestos to trained professionals who can remove the asbestos safely.

Asbestos is a carcinogen, meaning it increases the risk of cancer. Inhaling asbestos fibers is linked to several respiratory issues, including asbestosis, or scarring on the lungs, lung cancer, and mesothelioma, another type of cancer. There's also a link between asbestos exposure and an increased risk of colon cancer and other cancers of the digestive system.

Usually, the people most at risk for disease related to asbestos exposure are those who spend a lot of time working around the material without protection. Electricians who work with asbestos wire have a higher risk of developing mesothelioma or lung cancer due to their exposure.

Vermiculite insulation that comes from a particular mine before 1990 is likely to contain asbestos. This is particularly true in the U.S. However, not all types of vermiculite insulation contain asbestos. Since you can't detect the presence of asbestos without special equipment, it's best to assume that the insulation contains the dangerous mineral and to either leave it alone or hire a professional to handle it.