Lutherans don't; Luther held that true faith resulted in fruitbearing, and that faith could wither and die.
Protestants are so funny. Yes, going to church doesn't make you a Christian. But neither does "verbal profession of Jesus Christ as Lord and Savior"!Do Protestants really believe that?
Classical Calvinists don't; they hold that those predestined via decree to election are also predestined to sanctification and glorification.
Wesleyan-Arminians obviously don't.
The so-called "Free Grace" Dispensationalists (e.g. Zane Hodges) do, and many "eclectic" so-called non-denominationals do.
The "free grace" proponents frame the debate as if they alone are for "grace" (legal forgiveness of sins past and future on the basis of propositional acceptance and affirmation of Christ as "Savior" -"Lordship" to them is unnecessary) they brand most other soteriological views other than their own as "Lordship salvation" which they claim is a form of "legalism."
Yet there are not too many Classical Calvinists or PURE Arminians anymore, are there? I know that the Southern Baptists have a hybrid theology, that once you say the Sinner's Prayer something to the effect of "Lord Jesus, I believe you are who you said you are and there is no one like you. I choose to make you the Lord of my Life, come into my heart and save me. Amen." then you are saved. Anybody can say this prayer, and get "saved" but at the same time.. once you're saved you can't fall away because you're eternally secure. No Calvinist predestination, yet eternal security is definitley there.
Protestantism is becoming more like a Build-a-Bear religion or a Smorgasbord than it ever was before. The single Grand Moment sinner's prayer salvation with eternal security isn't *uncommon* among Evangelicals, Baptists, Charismatics and Pentecostals and others, but neither is it so prevalent that it can be thought of as "the" defacto
Protestant position (neither for that matter is it "the" default position within the SBC).
There are still plenty of Lutherans, Classical Calvinists, and Classical Arminians. Classical Arminians are found not just among Methodists and Wesleyans, but also in Assembly of God and Pentecostals (their seminaries often use textbooks by Arminian theologians, albeit in the churches themselves you can find practically anything). Also not mentioned are many other groups who are opposed to "cheap grace" for variegated reasons.
The SBC itself is a hybrid movement, though "hybrid theologies" (*plural*) rather than "hybrid theology" (*singular*) is a better descriptor. Southern Baptists identifying as 5-point Calvinists number approx. 10%, but of course many Classical Calvinists hang their hats elsewhere -not limited to the Presbyterian churches, and last year something of a "Calvinist revival" was being reported by Christianity Today within Evangelical and Baptist seminaries among what is presumably the next generation of leadership. Within the SBC mentioned above are Dispensationalists, Amyraldians, further deconstructed "X-point" Calvinists, alongside Christians whose theology is extremely ill-defined and/or undefined to a surprising degree (also those identifying as "non-denom" are growing, though these too tacitly if not explicitly are indebted to historical traditions to various degrees -it is never simply a question of tradition or no tradition even among those who reckon themselves pure biblicists). Many Southern Baptists would deny salvation is just "fire insurance," and would maintain any confession of Christ as Lord will be seen to have been a false confession if there was not genuine repentance (note the past tense is usually assumed by Baptists thought scripture has the continual present indicating a lifetime of repentance rather than a single Grand Moment) followed by a life of "lordship" -the usual line is those who repudiate their Christian confession and/or "walk" either "are eternally secure" or "were not really saved in the first place" depending on which Southern Baptist is being asked.
It would be wrong to suppose Baptist churches are not rife with "cheap grace" and Grand Moment salvation. Certainly the "accept him as your Savior and are eternally secure" mindset is not uncommon, but it isn't the whole story, and is, I think, inaccurate as an unqualified generalization.