No — but it is a condition you should resolve before removing conditions, because your insurer will have an opinion about it.
Aluminum branch wiring was used in North American homes for roughly a decade from the mid 1960s, when copper prices spiked. Calgary has a meaningful stock of homes from that period, particularly in the established inner-ring communities.
The wire itself is not the problem. The problem is at connections: aluminum expands, contracts and oxidises differently from copper, so terminations at outlets, switches and panels can loosen or corrode over time, and a loose connection generates heat.
The standard fix is not rewiring the house. It is remediating the connections — commonly called pigtailing — where a short length of copper is joined to the aluminum with an approved connector at every device. It must be done with connectors rated for the purpose and by a licensed electrician; the hardware-store wire nut is not an acceptable substitute and insurers know the difference.
Ask two questions: has it been remediated, and is there documentation from a licensed electrician? "The previous owner did some of it" is not an answer that will satisfy an insurer.
Many Alberta insurers require either remediation or an electrical inspection before binding coverage on a home with aluminum branch wiring. Some decline outright. As with Poly-B, the sequence that matters is: find out during your condition period, while you still have the ability to renegotiate or walk.
Aluminum wiring is a solvable, well-understood condition with an established remedy. The houses that get people into trouble are the ones where nobody asked, and the answer only surfaced at renewal.