The phrase "such policies" refers to those specific rules or plans that have been mentioned or discussed previously. It is used to talk about those exact policies without repeating or re-explaining them. Full definition
Bonus paid is not that rewarding, but its the only returns for such policies on maturity because sum assured is the total of all your premiums paid. (relakhs.com)
The lack of such policies in each of those areas reduces its grade. (edweek.org)
What is more, companies can claim the premium paid on such policies as a business expense. (tomorrowmakers.com)