which modem and router model do you have. model #?
In general you can follow this guide for Verizon Equipment
How can I change my wireless network to WPA2 or WPA encryption?
Verizon recommends using the strongest network encryption compatible with your network devices. In most cases, that is WPA2 encryption. However, you will notice some of the older devices below may not be compatible with WPA2 encryption. In those instances, WPA is the preferred encryption because it is still stronger than WEP.
For step-by-step instructions for upgrading your network security, select the router or gateway you are using and the type of encryption you prefer.
 D-Link 2750B Gateway Change to WPA or WPA2 encryption |  Actiontec GT784WNV Change to WPA or WPA2 encryption |
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| Westell VersaLink 7500 Gateway Change to WPA2 encryption Change to WPA encryption2VerVe | Actiontec GT704WGB gateway Change to WPA2 encryption Change to WPA encryption2 Ver |
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| Actiontec GT704WG gateway Change to WPA encryption | Westell VersaLink 327W gateway Change to WPA encryption Ve |
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| Linksys BEFW1154 router Not compatible with WPAVersa | Change to WPA encryption VersaLink 7500 4532 |