What blessings do believers in the Age of Grace get from the New Covenant if they are not in it?
Believers in the Age of Grace are not in the New Covenant, which God makes with Israel, yet they enjoy its benefits: the work of the cross, the power of His resurrection, the coming of the Holy Spirit, and all the blessings of this Age of Grace. They are members of the Body of Christ, not in a covenant relationship.
Les explains that many theologians claim believers in the Age of Grace are under the New Covenant, but reading Scripture plainly shows the New Covenant is made with the house of Israel and the house of Judah. He asks how believers can be in a covenant God makes with Israel, and answers that they cannot be in it. Instead, they are enjoying the benefits of everything God did to fulfill this covenant with Israel. Those benefits include the work of the cross, the power of His resurrection, the coming of the Holy Spirit, and all the blessings enjoyed in this Age of Grace. It is not a covenant relationship. Believers are members of the Body of Christ, He is the Head, and they are in the Body, but they are not in a covenant relationship. God will make the New Covenant with the house of Israel.
Behold, the days come, saith the LORD, that I will make a new covenant with the house of Israel, and with the house of Judah: