How to activate iPhone on an existing line for Verizon?

My family has a shared plan with unlimited talk and text but no one has a smartphone.

My aunt is giving me her old iPhone 4, so can I activate it on my number and just pay my parents the extra amount for data? Is it $20 or $30 a month?

I believe its 30 but it could be more… I have an iphone 4 on Verizon but its best to ask Verizon to be sure

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