The type of exam depends on the age of the applicant, the amount of life insurance being requested, and the guidelines of the insurance company.
Usually, a paramed exam or physical exam may draw blood and/or take a urine sample to check ofr certain health issues, use of prescription drugs, cholesterol levels, STD's and illegal drugs in your system, such as, marijuana.
In some states marijuana is legal as a medical prescription for certain health issues.
However, in states and jurisdictions where marijuana is illegal, if you test positive for marijuana, the insurance company may or may not decline you for life insurance coverage.
In addition, there are life insurance plans that do not require a medical exam. These term life insurance no exam policies do ask you some health questions, and may offer up to $500,000 of life insurance without having to take any exam.