Exclusive / Dating?

I started talking to this guy a couple months ago, we hit it off early and I like him however I'm bothered with our "relationship". I have met his family, he takes me out on dates, he invites me on his family vacations, and calls me all the pet names you can think of. Its been like this for a couple months and I decided to ask him what we were because we never established anything and I like knowing where we stand. He dropped this bomb on me that he doesn't like labels but he wants us to be exclusive. I don't really understand the point of being exclusive when he treats me like his girlfriend anyway. I thought he liked me more than that. I am older than him and will be graduating school before him and I don't know if that has any reason to do with him not wanting a relationship but the whole "i don't like labels" honestly offends me. I don't know if I am overreacting because he does a lot for me but I'm not sure how to walk away from this or approach this effectively.

Exclusive / Dating?
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