Salvation wasn't lost here.
Agree.
Death means separation of existence.
If James says, "faith without works is dead" he is saying Works are to Faith what the Body is to the Spirit.
The body displays the life of the spirit (breathe).
Work displays faith.
The only way I can display that I am alive is with my body.
The only way that I can display that I have faith is by my works.
If I have no works, does that mean that I have no faith? No it does not!
That would be like saying that if I die physically, I would no longer exist.
The truth is that I have eternal life, so though I may lose my body, I am still very much alive.
If you have faith but no works, you simply cannot demonstrate to another that you have faith.
"Yea, a man may say, Thou hast faith, and I have works: shew me thy faith without thy works, and I will shew thee my faith by my works (James 2:18)."
To be effective, to be able to demonstrate our faith, and to earn rewards, we must have works.
This is the correct understanding of James, it is not about false professors which is the Lordship Salvation view which is incorrect and superimposed on the text.
He is admonishing his brethren in Christ to put their faith to work.