I was thinking of turning in my Iphone 5 for the Iphone SE. I am currently on Verizon (no more contract). I used the Apple store app to check availability of a 64GB phone. It has 2 options: "Replace this phone (on my Verizon account") and "But a new phone (on existing wireless carrier account or SIM-free)". this seems very confusing to me. What exactly is the difference? I want to buy the phone outright by paying the full amount (minus the trade-in value for my existing phone is that's possible). Which option should I be choosing here? I still want to remain with verizon and just put the existing sim card into the new phone. To me, it seems either option may be ok. also, if I got with the 2nd option, it again asks me to choose between Verizon or Sim-free. What's the catch?