Real Dictionary

policy
An official organization's policy on a particular issue or towards a country is their attitude and actions regarding that issue or country.
variable noun: A policy is a set of ideas or plans that is used as a basis for making decisions, especially in politics, economics, or business.

policy in American English 1
government or polity
noun: a definite course of action adopted for the sake of expediency, facility, etc

policy in American English 2
a written contract in which one party guarantees to insure another against a specified loss, damage, injury, etc. in consideration of payments, usually periodic, called premiums
noun: a document embodying a contract of insurance

policy in British English 1
noun: a plan of action adopted or pursued by an individual, government, party, business, etc

policy in British English 2
noun: a document containing a contract of insurance

policy in Insurance
noun: A policy is an agreement that you have made with an insurance company, or a document that shows this.