Valuable or dearly beloved (8)
I believe the answer is:
precious
I believe this is a double definition.
'valuable' is the first definition.
(similar in meaning)
'dearly beloved' is the second definition.
(thesaurus)
(Other definitions for precious that I've seen before include "Of high worth or cost" , "Cherished or valuable" , "costly" , "Very dear" , "Cherished or of high worth" .)