So does that mean I go in and let them look at me and answer some health questions, or do I have to give them medical records and let them perform a physical exam on me?
There are always health questions, and depending on the answers to those questions, and/or how much life insurance coverage you buy, it's quite possible that you'll need to release medical records.
You can also expect, depending on coverage levels, that they'll require a paramedical examination. They may test your blood pressure, take a blood and/or urine sample.
No preparation needed. They're used to being discrete, just answer all questions truthfully. Here's how you can learn more about the life insurance medical exam, how it woks, and how you may qualify for life insurance with no health exam needed.