Cover point with former PM (6)
I believe the answer is:
sheath
'cover' is the definition.
(sheath is a kind of cover)
'point with former pm' is the wordplay.
'point' becomes 's' (S is an example).
'with' is a charade indicator (letters next to each other).
'former pm' becomes 'heath' (I've seen this before).
's'+'heath'='SHEATH'
(Other definitions for sheath that I've seen before include "Cover for a sword" , "Cover for a blade" , "case for weapon" , "jacket" , "cocktail dress" .)