Peter now says that the wife is a fellow heir of this “grace of life.” That is to say that the “inheritance” mentioned in 1 Peter 1:4 is also hers. From that observation we could conclude that she too is “elect” (1 Peter 1:1), “born again” (1 Peter 1:3), and a “sojourner and exile” (1 Peter 2:11) just as the husband is. She is a believer. But in the wider picture of biblical revelation, that conclusion is not automatically accurate. Contrary to the habit of today’s (Western) world to deal with persons as individuals, the Lord dealt with his people as families. So when God established his covenant with Abram he included immediately Abram’s offspring (Genesis 17:7)—and the sign of the covenant was given to every male in Abram’s household (Genesis 17:23). Similarly, at Mount Sinai the Lord told the people of Israel that he was “your God” (Exodus 20:2), and described the men, women, and children as “chosen” (Deuteronomy 10:15; Deuteronomy 7:6) and heirs of the Promised Land. Again, when Lydia as head of her household came to faith, her entire household was baptized (Acts 16:15; see also Acts 16:33). If families and a people were God’s by covenant, Peter’s phrase “heirs with you” does not necessarily mean that the wives in question were believers, but means (at a minimum) that the wives of these believing husbands were also under the umbrella of the covenant—and so “heirs of the grace of life” (1 Corinthians 7:14).
7 Likewise, husbands, live with your wives in an understanding way, showing honor to the woman as the weaker vessel, since they are heirs with you of the grace of life, so that your prayers may not be hindered.