policy

Universal Words noun (plural policies) 1 [C,U] ~ (on sth) a plan of action agreed or chosen by a political party, a business, etc: the present government's policy on education * The company has adopted a firm policy on shoplifting. * US foreign / domestic policy * They have had a significant change in policy on paternity leave. * a policy document 2 [C,U] (formal) a principle that you believe in that influences how you behave; a way in which you usually behave: She is following her usual policy of ignoring all offers of help. * (saying) Honesty is the best policy. 3 [C] a written statement of a contract of insurance: Check the terms of the policy before you sign.