You can paste any text and formatting from other sources into a policy.
Policies Now 8 utilizes a different database type from prior versions that prevents the data from being saved in other locations. The database name is called UltimateEmployer.sdf and the location is now:
Windows 7 64bit: C:\Program Files (x86)\Insperity\UltimateEmployer\Database
Windows 7 32 bit: C:\Program Files\Insperity\UltimateEmployer\Database