Settings - Policies
The Policies Tab in the Settings area contains three options.
1. The available Policy Types - useful for reporting
2. Draft Policy Status options - often this is left simply as 'Draft' - policies in this state CANNOT be published to public viewers
3. Final Policy Status - often this is simply 'Final' or 'Ratified' but you can have as many options as you choose.

Add the options that you require to be available and press Submit.