You can buy BNC attenuators that you can put inline between your signal generator and phono input. A 20dB one would knock a 250mV RMS signal down to 2.5mV RMS. Or a 30dB one would give you finer control of the output if you can only adjust in 40mV increments. That would give you 2.5mV with the generator set at 2.5V. These are all RMS voltages. Your generator may show RMS V if you change a setting but if not, be aware if it only shows peak to peak you'll have to convert my numbers.
Edit: Just thought to add that all this is at 1kHz. If you change the frequency, the RIAA equalization comes into play so if you drop the frequency down to 20Hz, the phono stage adds another 20dB of amplification and if you go up to 20kHz it subtracts 20dB so that may be an argument for having a few different attenuators to choose from so you can stay within the abilities of your generator while providing an appropriate input level to whatever you're testing.