$500 via Verizon e-gift card (sent w/in 8 wks). Activation of 4G LTE/5G phone on One Unlimited for iPhone (all lines on account req'd on plan), 5G Do More, 5G Play More or 5G Get More plans req'd. Device must remain active for 45 days. $500 charge back if service cancelled w/in 12 mos or eligibility req's are no longer met. See vzw.com/bring-your-own-device for details. And for a limited time, we’ll waive your activation fee when you order through vzw.com or My Verizon app. You’ll see the one time charge waived as your “Due Today” amount at checkout.
It depends on what kind of phones. The generic answer is to turn off the old/current phone and then activate the new one. If they are both sim card devices then you will need to switch the sim from the old phone to the new one.