This kills me to say, but this is not far off from the current Catholic belief, as I understand it. We do believe there is punishment for a knowing rejection of Christianity, but not for someone who has not had exposure.
GG: What is sin?- Obama, 2004
OBAMA: Being out of alignment with my values.
My mother, whose parents were nonpracticing Baptists and Methodists, was one of the most spiritual souls I ever knew. But she had a healthy skepticism of religion as an institution. And as a consequence, so did I.- Obama, 2007
OBAMA: Right. Jesus is a historical figure for me, and hes also a bridge between God and man, in the Christian faith, and one that I think is powerful precisely because he serves as that means of us reaching something higher. And hes also a wonderful teacher. I think its important for all of us, of whatever faith, to have teachers in the flesh and also teachers in history.- Obama, 2004
If so, your understanding is incorrect.
The Church and her sacraments are the ordinary means of salvation. All men are called to her, and she is required to teach all nations. No one who rejects what he knows to be the true faith will be saved. But God is not bound by what he has revealed. Although his hope of salvation is gravely imperiled, it is not impossible for an untaught pagan, preserving his heart in purity and seeking the truth in all things, to be saved. That is an authoritative and long-standing teaching of the Church.