Personally, I try to live with minimum expectations. You see, I simply do not trust my thoughts to be clear and pure. For example, if I start placing expectation of LOVE through what it means etc, then I will start judging if something reflects my standards and such... very artificial to what love is.

I will start thinking, this is not love, or this is love.. this should be love.. blah blah blah.. followed by a roller coaster of emotions...not steady calm tranquil serenity of bliss.

So for me, love is meaningless.. the more i think about it.. the more I get away from it...

still, LOVE is.. and appreaciate it when experience it, when I reflect it..when I am gifted with it.. and so on.

If I had to pin LOVE to some words.. I would associate love with the miraculous acts of equanimity and compassion..

There are consequences.. and there are inherent RISKS in allowing ourselves to be loved. In one playout of your question I think being loved is to be accepted and therefore.. ok, good, not bad, or whatever verbage works for you here.
For me, to be loved is to be lovable and "not bad".
For some "not broken" works better.
The risk is that with most things on earth, there is an opposing reaction. The fundamental opposite, like day and night, there can someday come the dreaded withdrawal of love : ( That of course, implies "I'm not OK" or worse...
far worse like, "Not only am I not OK, I faked my way into looking like I'm OK, and that @#&^%$% figured me out" And then of course, we think that must be the "real us" inside that's "Not OK" so we somehow think wer'e broken to the core... then of course, we assume all humans on earth now know that we aren't OK so we deal with "looking bad"
A lot of times people either do the dumping when they feel like there is potential to be dumped, or subtly avoid the relationship from the get go when they sense they could be "found out"
After much ado, my answer is that being loved is about external acceptance which leads me toward internal acceptance.
corny line here, but it works: "I love you not for who you are, but for the mirror you hold up for me"

What being loved means to me?

What I wrote for someone I love:

Eight Letters

three words, eight letters, infinity
written in: I love you
what do they mean
when I use them?
whispered…written…roared

to me, they mean I see you
YOU, beneath the flesh and bone
the swift movement
the air unnamed
Spirit…God…Divinity

they mean I hold you precious
gently cradled in the private
pause between each
heartbeat safe with me
here…there…everywhere

they mean I want to give
each moment I am – I AM
in your presence
the honor it deserves
rare…pristine…holy

they mean you are my playground
my laughter, my joy, my bliss
as I tumble through
God's Garden with you
grateful…exuberant…free

they mean never having to say
forever because forever
simply means right now
and I've already given that to you
timeless…unmeasured…overflowing

I love you.
with a breadth and depth - I am
just beginning to understand
more sacred than a prayer
I…love…you

My heart is wide open.
smiles.
I do not feel the need for armor.
acceptance of me, pros and cons. all of me.