Protection, for example, hiding iron shirt (6)
I believe the answer is:
safety
'protection' is the definition.
(I've seen this before)
'for example hiding iron shirt' is the wordplay.
'for example' becomes 'say' (I've seen this before).
'hiding' is an insertion indicator.
'iron' becomes 'fe' ('Fe' can be a synonym of 'iron').
'shirt' becomes 't' (as in a T-shirt).
'fe'+'t'='fet'
'say' going around 'fet' is 'SAFETY'.
(Other definitions for safety that I've seen before include "immunity" , "Protection" , "The condition of being free from danger" , "shot in game" , "Security; sanctuary" .)