policy

♦♦♦ poli|cy /p'ɒlɪsi/ (policies)
1 [N-VAR]
A policy is a set of ideas or plans that is used as a basis for making decisions, especially in politics, economics, or business.
...plans which include changes in foreign policy and economic reforms.
...the UN's policy-making body.
2 [N-COUNT] usu poss N
An official organization's policy on a particular issue or towards a country is their attitude and actions regarding that issue or country.
...the government's policy on repatriation.
...the corporation's policy of forbidding building on common land.
3 [N-COUNT] usu N n
An insurance policy is a document which shows the agreement that you have made with an insurance company. (BUSINESS)
You are advised to read the small print of household and motor insurance policies.