There is no fear in love; but perfect love casteth out fear: because fear hath torment. He that feareth is not made perfect in love.
We love him, because he first loved us.

COMMENTARY

There is no fear in love; because fear hath torment. He that feareth is not made perfect in love
It is impossible to properly love God when we are afraid. And the value of loving God is not only in rendering to Him what He is due, it is for our own benefit as well. For when people do not love God, they are not good to themselves or others. When people do not love God, and are instead afraid, they compromise their soul and make choices that they are ashamed of. Thus fear is not only unpleasant, it is one of the great destroyers of the self.

But perfect love casteth out fear
We love him, because he first loved us
Fear can be dispelled, but only by retaining a lively sense of love in our hearts. Where love is, fear cannot also be.
But how to obtain that perfect love that casteth out fear? It is not something that we have the ability to conjure up in ourselves. As we learn in the second verse from John, it is something that God gives to us first, and then we maintain it by loving Him back. Thus by regularly exchanging love with Him we keep our fears at bay and live as our best selves.
And inherent in that exchange of love is a remembering of that love. Every time we praise and give devotion to God, we signify that we recall what He has given to us.
Or, to work it backwards, those that regularly count their blessings are the ones in whom the cycle of perfect love is turning. They are constantly refreshing in their minds the reasons that they do not fear, the reasons that they know it is worthy to rely on the Lord. For He has already loved them once, and they remember it, and know that He will love them again.