$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.
Red lights usually means a disconnection from the VZW network. What does the User Guide suggest the light codes mean for your NE? If the device is still covered by warranty you could give VZW a call and have them walk you through the process too.