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English definition of “policy”

policy

noun [C] uk   /ˈpɒl.ə.si/ us    /ˈpɑː.lə-/

policy noun [C] (PLAN)

B2 a set of ideas or a plan of what to do in particular situations that has been agreed officially by a group of people, a business organization, a government, or a political party: They believe that Europe needs a common foreign and security policy. What is your party's policy on immigration?Plans and arrangementsGovernment administration and organisation

policy noun [C] (DOCUMENT)

C1 a document showing an agreement you have made with an insurance company: You should check your policy to see if you're covered for flood damage.Insurance
(Definition of policy from the Cambridge Advanced Learners Dictionary & Thesaurus © Cambridge University Press)
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