It means that the placenta is low and reaches the cervix (opening of the womb), but it doesn’t cover it. There’s still some time before you deliver, so hopefully it’ll move up more before baby comes out. Speak to your gynae about whether you need to avoid intercourse at the moment. The worry with low placentas (especially grade 3, or placenta previa) is bleeding. If you don’t have any bleeding, then that’s good. Make sure you take good care of yourself during this period:)