pol·i·cy 1 /'pä-lə-sē/ n pl -cies: an overall plan, principle, or guideline; esp: one formulated outside of the judiciary
obligated to consider legislative policy on the matter in their decision
policy 2 n pl -cies: a contract of insurance; also: the written instrument of such a contract
Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.