Do Jews have a separate covenant with God that makes them exempt from needing to believe in Yeshua for salvation?
God did make a covenant with Abraham that made clear God’s eternal purposes for Israel as His chosen people to be a blessing to all nations. God provided the Torah to Israel through Moses as protective guidelines for national existence and the means to corporate worship of God. The Torah was a national moral code for Israel. Jeremiah prophesied of a New Covenant between God and Israel and Judah in Jeremiah 31:31-34. This Covenant would be different than the covenant given to Moses. It would be written upon Jewish hearts and minds by God Himself. In this New Covenant, every member of the people of Israel would be able to know God personally.
The first century followers of Yeshua believed this Covenant with its distinct spiritual privilege of the internalized work of God and personal acquaintance with Him was ratified and made fully operational by Yeshua Himself in Matthew 26:26-28. Like all other Hebraic covenants, it was inaugurated by a broken body and shed blood. In the New Covenant instance, it was by Yeshua’s own broken body and shed blood.
Israel’s trust in Yeshua’s sacrifice makes it possible for Jewish people to come into a New Covenant relationship with God, e.g., forgiveness of sins, making alive (regenerating) the deadened spirit of man, and knowing the voice of God personally. This New Covenant was made specifically with the House of Israel and the House of Judah. The salvation promised in the New Covenant is available only to Jewish people and those from every tribe and tongue who come to fully trust in Yeshua. Only in Yeshua does any Jewish or Gentile person find forgiveness for sin, redemption, reconciliation to God, and the chance to receive the gift of eternal life. There is no hope of eternal life for anyone, Jew or Gentile, apart from faith in Yeshua.