The old church divines used "saved" and "conversion" to mean the full expression of God's redemptive plan, the Golden Chain of Redemption: foreknowledge, predestination, calling, regeneration, faith, repentance, justification, union to Christ, adoption, sanctification, and glorification.
Nowadays, "saved" is often taken to mean means that moment of re-birth (regeneration). In other words, it helps to define terms carefully. Using the old paths of ways of speaking, we believers are being "saved" in one sense, in that we have not yet reached our full glory. In another sense, we believers are "saved" in that there can be no doubt we will in fact be glorified. This tension should stir up the faithful in their walk of faith. In fact it does for the true believer.
AMR