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The phrase 'privacy policy' is correct and can be used in written English.
This phrase is typically used to refer to a statement or document that outlines a company's rules and practices regarding the handling of user data. For example, "Company XYZ has a strict privacy policy that outlines how customer data is collected and shared."
Dictionary
privacy policy
noun
A statement detailing policies that an organization or party uses to collect or hide information about an end user or customer of the organization, particularly where it concerns private information.
Exact(54)
Google's privacy policy is here.
Make your privacy policy readable.
AddThis privacy policy.
MyWay's privacy policy is simple.
No, says its privacy policy.
"Our privacy policy was simple," he said.
Similar(6)
— Verizon's privacy-policy summary.
Krista Kobeski Facebook Privacy & Policy.
CLICK HERE for Privacy Policy.
Accept the Terms and Privacy Policy.
Review the Bloomspot Privacy Policy and Terms of Service.
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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