The Collaborative International Dictionary of English v.0.48:
Life-saving \Life"-sav`ing\ (l[imac]f"s[=a]v`[i^]ng), a. That saves life, or is suited to save life, esp. from drowning; as, the life-saving service; a life-saving station. [1913 Webster] life-sizeWordNet (r) 3.0 (2006):
lifesaving n 1: saving the lives of drowning persons; "he took a course in lifesaving"