Verizon store told me you do not need a new sim. They can do it electronically.
They told me the same thing via online chat.
VZW: Hello. Thank you for visiting our chat service. May I help you with your order today?
ME: I currently have VZW service with two lines on a family share plan, not the everything share plan. One is a iPhone with unlimited data and the other is a basic flip phone. I was told by one of your assicates that I can upgrade the basic flip phone and use that device as a "swap" to retain the unlimited data that is on the iPhone. Is this correct?
VZW: Yes, you can upgrade the basic phone, and then activate that on the line that has unlimited.
ME: Now, this will extend the contract on the basic phone correct? Is device swapping even allowed with vzw? I don't want to do something that will violate my unlimited data to be removed.
VZW: That is correct, and yes it is perfectly fine. It's basically looked at as activating a device you already have on a line of your choice.
ME: Great. Now do I need to acquire a new sim card since I'm not purchasing it with the unlimited data line?
VZW: No, the sim card is built into the phone. They would just activate that phone on your line.
ME: Seems like the iPhone 5 has a removable sim. So even though its first activated on the basic phone, your saying the same exact sim can be used on the unlimited data line? If so will I just need to phone into vzw?
VZW: Yes, that is exactly what i am saying.
Matt: Great. Thank you very much. You have yourself a good day.
VZW: Thank you for visiting Verizon Wireless, I look forward to speaking with you again. Have a great evening!