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Any Advantage to Unlock my Verizon Iphone?

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Hi

The contract is up on one of our phones (iPhone 5). We are currently on Verizon. We are on the more of Everything plan. We have two iphones, 3 iPads and a dumb phone for my mom. We are currently paying $231 for 4GB of shared data.

Is there any advantage to unlocking the iPhone that is not under contract?

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