Latter-day Saints believe that the atonement of Christ saves all mankind, both the wicked and the good. However we believe that there is a difference between being exalted as joint heirs with Christ and being saved. Not all mankind is exalted because of the atonement.
In scripture these terms are often used interchangeably. For clarity we will define them strictly for the rest of this reference as follows regardless of the word that is used in scripture:
To be saved - To be saved means to be received into Heaven and to be ressurected and saved from mortal death.
To be exalted - To be exalted means to be joint heirs with Christ and receive a fullness of glory.
We believe all mankind will be ressurected and saved from a mortal death. The justification for ressurection and life is a gift given freely to all mankind through the abundance of the grace of Christ. We believe that all mankind will enter the kingdom of Heaven with the rare exception of those who knew Christ personally and rebelled.
However mercy cannot rob from justice, and grace still requires faith, and faith requires works. We believe that not all mankind will receive a fullness of glory. These are those who become joint heirs with Christ and recieve the fullness of the Father. We believe this is reserved for those who have proven themselves through repentance, faith, works and charity.
Below you will find the scriptures related to each that show (in-part) why Latter-day saints believe this:
Latter-day Saints believe that all mankind will be saved:
Related verses in the Bible:
Related verses in the Book of Mormon:
As found in the Encyclopedia of Mormonism:
"Salvation is the greatest gift of God. The root of the word means to be saved, or placed beyond the power of one's enemies. It is redemption from the bondage of sin and death, through the Atonement of Jesus Christ. Some degree of salvation will come to all of God's children except the sons of perdition."
Latter-day Saints believe that one must be righteous to receive exaltation:
Related verses in the Bible:
Related verses in the Book of Mormon:
As found in the Encyclopedia of Mormonism:
"To Latter-day Saints, exaltation is a state that a person can attain in becoming like God-salvation in the ultimate sense. Latter-day Saints believe that all mankind (except the sons of perdition) will receive varying degrees of glory in the afterlife. Exaltation is the greatest of all the gifts and attainments possible."
As found in current teachings of the LDS church:
"To be saved—or to gain salvation—means to be saved from physical and spiritual death. Because of the Resurrection of Jesus Christ, all people will be resurrected and saved from physical death. People may also be saved from individual spiritual death through the Atonement of Jesus Christ, by their faith in Him, by living in obedience to the laws and ordinances of His gospel, and by serving Him.
"To be exalted—or to gain exaltation—refers to the highest state of happiness and glory in the celestial realm."