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Here is a brief comparison showing the main differences between covenant theology and dispensational theology, nice and impartial.
Dispensationalism
Covenant Theology
Note on #3: Covenant theology applies the geographical land promises to the Church figuratively.
Note on #5: Dispensationalists either infer or state that the entire levitical system will be repeated in the Millennium. Moderates think that it will simply serve as a ‘reminder’ of Christ’s death. Extreme dispensationalists infer that it will be the basis of millennium atonement. In either case all disps. accord an elite position to ethnic Israel in the millennium.
Dispensationalism
- God has two distinct people – Israel and the Church.
- The Church age was a parenthesis in God’s dealing with Israel.
- God’s promises to Israel were postponed till after the rapture.
- After a Jewish tribulation revival, their ‘dispensation’ will resume.
- Worship in the millennium includes re-instituted temple sacrifice.
- The promised temple is an example of what must yet be fulfilled.
- Modern Israel proves not all promises are fulfilled in the Church.
Covenant Theology
- God has always only had but one spiritual people.
- The Church (incl. Jew & Gentile) actually is true Israel.
- God’s promises to Israel are fulfilled in Christ’s Church.
- There will be a revival of Jews but it will be into the Church.
- Redemption is in the cross and sacrifice is finished forever.
- Even if a temple gets rebuilt it is unnecessary and irrelevant.
- The modern restoration of the nation of Israel is coincidental.
Note on #3: Covenant theology applies the geographical land promises to the Church figuratively.
Note on #5: Dispensationalists either infer or state that the entire levitical system will be repeated in the Millennium. Moderates think that it will simply serve as a ‘reminder’ of Christ’s death. Extreme dispensationalists infer that it will be the basis of millennium atonement. In either case all disps. accord an elite position to ethnic Israel in the millennium.