Highly regarded; esteemed; prized; as, a valued contributor; a valued friend.

held in great esteem for admirable qualities especially of an intrinsic nature; "a valued friend"

one of the distinguishing characteristics of a traditional life insurance contract, meaning that the contract has a fixed value payable at maturity, death of the insured, or at any other time, as opposed to other insurance contracts that only reimburse actual loss.

(usually used in combination) having value of a specified kind; "triple-valued"

contract. A type of insurance contract that specifies in advance the amount of the benefit that will be payable when a covered loss occurs, regardless of the actual amount of the loss incurred. A life insurance policy is a valued contract. Contrast with contract of indemnity.