Meaning of the word policies in English

What does policies mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

policies

US /ˈpɑːl.ə.siz/
UK /ˈpɒl.ə.siz/

Plural Noun

1.

a course or principle of action adopted or proposed by a government, party, business, or individual

Example:
The company has strict policies regarding employee conduct.
Government policies aim to reduce unemployment.
2.

a contract of insurance

Example:
I need to renew my car insurance policy next month.
The insurance policies cover damage from natural disasters.