Faith in this verse is defined as trust, reliance upon God when looking toward the future, and obedience even when we do not fully understand the circumstances. Even now, these faithful ones have not yet reaped the greatest reward. However, God has entrusted us with a clearer presentation of the gospel. This is for those who are alive and hearing it today to be able to believe and share in the ultimate reward.
Through Jesus, the faithful people in Hebrews 11 will receive blessings in the future. No lie can be told by God. There will never be a failure of His Word. Throughout all generations, His faithfulness endures, and His promises in Christ Jesus are all 'yes' and 'amen'. It is for this cloud of faithful witnesses, as well as for every member of the Body of Christ, the Church, that we pray. 
In God's plan, all things work together for good. The fulfillment of His plan for His people, Israel, is dependent upon the consummation of His plan for the Church. In the same way that we are dependent on them for the birth of Christ, so they are dependent on the Church for the fulfillment of their promises. The wonderful thing about God's provision for the Body of Christ is that Israel would not be made perfect apart from us.

Dear Heavenly Father, thank You for the countless number of worthy individuals who have gained Your approval through their faith. When faced with difficulties and dangers, it is wonderful to realize that they continued to trust in the truth of Your Word. Although they died before receiving what they had been promised, their faith did not waver. It is my prayer that I may also have the faith that will not waver when problems arise and that I will remain faithful until the end. 
In Jesus's name I pray. Amen.