TT - when waiting to raise doesn't protect your hand

[bozlax]

This is actually a pretty good Paradise table. About 50% seeing the flop, not too much aggression without a hand...I liked it. No specific reads as I was only about 1 1/2 orbits in.

Paradise Poker 0.50/1 Hold'em (9 handed) converter

Preflop: Hero is Button with T[img]/images/graemlins/spade.gif[/img], T[img]/images/graemlins/heart.gif[/img]. CO posts a blind of $0.50.
UTG calls, UTG+1 calls, <font color="#666666">2 folds</font>, MP3 calls, CO (poster) checks, <font color="#CC3333">Hero raises</font>, <font color="#666666">2 folds</font>, UTG calls, UTG+1 calls, MP3 calls, CO calls.

Flop: (11.50 SB) 7[img]/images/graemlins/spade.gif[/img], 8[img]/images/graemlins/diamond.gif[/img], 3[img]/images/graemlins/spade.gif[/img] <font color="#0000FF">(5 players)</font>
<font color="#CC3333">UTG bets</font>, UTG+1 folds, MP3 calls, CO folds, Hero ?

My thinking: I'm last-to-act against 2 other players, and the pot is 13SB to me. I can't protect my overpair by raising here, presenting the first 2 players with 14:1 to call. If I call and then raise the turn, the pot will be 8BB when it gets to me and I'll be giving any OESD or flush draw from the flop 10:1 to call. So, since I can't raise to protect, my inclination is to raise for value, "get my money in while I've got the best of it."

Is a raise here correct?