It's better to be loved.
If you want an example, look at Princess Diana, she was a part of an institution that is feared by many, if not all, but she was loved by all. She was the peoples Princess and the world mourned her passing, but if the queen were to pass, in my opinion the mourning party wouldn't be anywhere near that of Diana Spencer's (especially since there is a great deal of people that believe her institution incited Diana's death). Love is a powerful thing, as is fear, but love to me is just better. It fills your life with meaning and warmth, and gives it purpose. To be feared is just a cold and lonely way to live. You're more trusting to the person you love, not so much the person you fear.