You would be responsible for paying the remaining balance of the device payment agreement if you are paying for a phone purchase or the Early Termination Fee if the line is under contract.
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Larry1954, we appreciate your interest in an additional line of service and want to ensure that you have the correct expectations in the event that you decide to pursue a disconnect. If the line of service has a device payment agreement, you would be responsible for the remaining balance of the agreement. However, if the additional line of service has a 2-year contract (such as a tablet or jetpack), you may be subject to an early termination fee. Let us know if this helps.
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In addition to the information Ann154 has provided, if you add the new line of service in order to qualify for the BOGO offer Verizon currently has, you will stop receiving the monthly credit for the free phone once you cancel that line and pay off the device balance.