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Is Structure,initial content and policies are available in static templates like editable templates in AEM?
If we compare Editable and static templates, then answer is No
but In static templates -
Structure is based on your page components
Policy is similar to design dialog
Initial, you can achieve this by using default values or by adding components in template.
BUT editable template has other advantages as well over static template, so better to go with editable templates instead of static templates.
Editable templates are considered best practice to use in AEM 6.4. The use of building new projects with static templates is not recommended. See Getting Started with AEM Sites Part 2 - Creating a Base Page and Template