Jesus identified the Nephites as “children of the covenant” (3 Nephi 20:26). Elder Russell M. Nelson explained what covenant the Savior was referring to and how this phrase applies to us:
“The covenant that the Lord first made with Abraham and reaffirmed with Isaac and Jacob is of transcendent significance. …
“We are also children of the covenant. We have received, as did they of old, the holy priesthood and the everlasting gospel. Abraham, Isaac, and Jacob are our ancestors. We are of Israel. We have the right to receive the gospel, blessings of the priesthood, and eternal life. Nations of the earth will be blessed by our efforts and by the labors of our posterity. The literal seed of Abraham and those who are gathered into his family by adoption receive these promised blessings—predicated upon acceptance of the Lord and obedience to his commandments” (in Conference Report, Apr. 1995, 42–43; or Ensign, May 1995, 33).