I think context determines what fear is being focused on....for example...
a. Paul said it is a fearful thing to fall into the hands of the Living God....therefore we persuade men.
He is obviously speaking of actual fear and terror based upon the context the words are framed in and what experience is being referenced.
B. Jesus said..."I will tell you who you should fear, He that has power to kill and then cast into hell."
This is actual fear as well, because the context is the loss kf life and being thrown into hell as a lost man.
c. Fear is the beginning of knowledge, but fools despise wisdom and instruction. Also The FEAR of the LORD IS CLEAN, it endures forever.
I believe this represents a reverential fear that guides a believer and is similar to the same fear that a child would have of a father....A fear that leads to growth, understanding, maturity
d. The angel flies through heaven prolaiming the everlasting gospel, “Fear God and give glory to Him, for the hour of His judgment has come; and worship Him who made heaven and earth, the sea and springs of water.”
This fear points squarely at those on the planet that are about to be burned and judged by the fiery indignation of God. And calls for repentance and the acknowledgement of God as God!
E. And then the verse some have quoted about Love casting out all fear.....
Love is a process of growth
and maturity and when one has matured to the point that LOVE has been perfected (matured) in them, they can no longer fear the judgement of God in the form or chastening because they walk in a manner that pleases the Heavenly Father.
Of course this is the jist and the bible has much to say on the subject......context determines the direction we should take with the word and it's application!