Will this work or no Verizion?

Hi, I got a question about my phone plan I'm currently on a 2 year contract with Verizon and I got the LG G2 but it broke and in order to replace it, they want $150 but I was wondering will this work instead of replacing my phone, could I just use my prepaid iPhone 4 and just put my LG G2 Sim card in the iPhone?

If that is possible and it works what plan would I have?
because for my LG G2 I have the $50 Unlimited Talk/Text 250mb of Data
and for the iPhone prepaid I currently have $45 Unlimited/Talk 500mb data
"I choose when to pay the $45 it's not auto withdraw like the G2 is"

So long as you have had prepaid service on your iPhone 4 for over six months you should be able to do this. I don't think you'll need the SIM card though - that's for 4G LTE, which I don't think is available on the iPhone 4. With the exception of LTE service, Verizon phones don't use SIM cards. You'll have to program the phone by activating it on the postpaid (contract) plan and programming the phone by entering a code. Verizon customer service should be able to walk you through this. I think you should end up with the same plan as you currently have on the contract, because you're not changing the contract. Best of luck.