policy: Meaning and Definition of

pol•i•cy

1. a definite course of action adopted for the sake of expediency, facility, etc.: We have a new company policy.
2. a course of action adopted and pursued by a government, ruler, political party, etc.: our nation's foreign policy.
3. action or procedure conforming to or considered with reference to prudence or expediency: It was good policy to consent.
4. sagacity; shrewdness: Showing great policy, he pitted his enemies against one another.
5. government; polity.

pol•i•cy

1. a document embodying a contract of insurance.
2. a method of gambling in which bets are made on numbers to be drawn by lottery.
3. See(def. 2).