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Discover Ludwig"insurance policy" is correct and usable in written English.
You can use it to refer to an agreement between an insurance company and an insured party. For example, "I recently purchased an insurance policy to protect my house and personal property."
Dictionary
insurance policy
noun
A legal document outlining a particular insurance cover for an insured entity for a given risk.
Exact(60)
That's your insurance policy".
"It's almost an insurance policy.
"That's an insurance policy".
"My degree is my insurance policy".
2. I have a life insurance policy.
Such swaps function like an insurance policy.
A broad insurance policy helped a lot.
"It is an insurance policy.
"I have an insurance policy.
"There's no big insurance policy.
"That is our insurance policy," Archuleta said.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com