I have a Magic Chef furnace/cooling system over 45 years old. Model #H2A24E9.25-1. It is blowing black all over my house through the vents. The furnace man that came to check it said it needed to be replaced due to its age and deteriorated insulation. I would like to know if it has any harmful materials in the furnace insulation?
I have no idea. You are replacing a very old unit.
You hired professional and should respect his advice, though there is nothing wrong with getting another bid or 2 on replacing your very old heating equipment.