Three lines, and the third is the one people either lean on too hard or throw away.
Quick answer
Living oriented toward God is a way of life that tends toward life. The verse describes a settled existence; it does not issue an insurance policy.
Read both lines
The chapter's title verse gives three movements: a direction, a condition, and a protection. "The fear of the LORD" in this book is not dread, and 8:13 supplies the definition the catalog uses throughout, an aversion to evil rather than a fear of God's temper. The middle line is the warmest, since the verb behind "abide" is about lodging for the night and satisfied is the word for a full stomach. A man who sleeps well and wakes up not hungry is a modest and deeply attractive claim.
What it does not mean
The third line has to be read the way Proverbs means all of its lines, as observation rather than contract. This book is a description of how God has ordered life in general, not a set of terms He has signed with individuals, and it knows this about itself. The same collection is honest elsewhere that the poor are stripped by injustice (13:23) and that the righteous can be found weeping. Job feared God and was visited by nearly everything. So the verse tells the truth about the shape of a God-oriented life, that it is far less exposed to self-inflicted disaster than the alternative, and it never promises immunity. Anyone whose life has been visited by evil is not holding evidence that they failed the first line.
From this side of the cross
The reason a believer can hear this verse without auditing themselves is that the orientation it describes is no longer a qualification to be met. The fear of the LORD stops being a threshold and becomes a description of where you already live.
Related: Proverbs 8:13 · Proverbs 1:7 · Proverbs 14:26–27 · Proverbs 13:23
New King James Version®, Copyright © 1982, Thomas Nelson. All rights reserved. Full copyright information. Scripture provided by API.Bible.
Go Deeper
If this verse has been used to put weight on you that it was never carrying, ask about it directly.