What does it mean when he says "I would take a bullet for you"?

My boyfriend of 9 months told me last night during a heartfelt conversation said: "I would take a bullet for you." He looked so sincere and emotional when he told me.

Does that mean he loves me? Was he trying to tell me that he does?

In terms of actions yes - he acts like he does love me. Prior to dating we were also close/best friends for 11 years.

What does it mean when he says "I would take a bullet for you"?
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