policy vs insurance

policy and insurance both are nouns.

Word	Noun	Adjective	Verb	Adverb
policy	Yes	No	No	No
insurance	Yes	No	No	No

As nouns, policy and insurance are synonyms defined as:

Other synonyms of policy include insurance policy.

policy (noun)	insurance (noun)
a plan of action adopted by an individual or social group	written contract or certificate of insurance
a line of argument rationalizing the course of action of a government	promise of reimbursement in the case of loss; paid to people or companies so concerned about hazards that they have made prepayments to an insurance company
written contract or certificate of insurance	protection against future loss