Policy

A policy is a document that formally states one or more permissions. Basically, policies are written to explicitly allow or deny permissions to access one or more AWS resources. Policies can be associated with one or more IAM users, groups, roles, or resources, based on their type. Broadly, IAM policies can be classified as follows:

• Managed policies:
  • AWS-managed policies
  • Customer-managed policies
• Inline policies
• Resource-based policies

Managed policies

Built-in policies that are managed by AWS or policies that are created and managed by customers are called managed policies. These policies can be attached to multiple users, groups, and roles. Managed policies cannot be attached to resources. Managed policies are further classified as follows:

• AWS-managed policies: As the name suggests, these are built-in policies that are created and managed by AWS. They are also updated from time to time and updates are automatically applied to the attached IAM principal entities.
• Customer-managed policies...