/ Dictionary / Index T term policy: Meaning and Definition of Find definitions for: term' pol"icy Pronunciation: [key] — Insurance. Insurance. a policy whose period of coverage is in excess of one year, usually paying a reduced premium rate, as in fire insurance. Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease. term paper termwise Related Content Daily Word Quiz: agitated Analogy of the Day: Today’s Analogy Spelling Bee: Today’s Spelling Bee Frequently Misspelled Words Frequently Mispronounced Words Easily Confused Words Writing & Language