Yes, VZW does allow the SIM swap. However, I'm unsure about the details, but I think the swap is from a 4G device to an iPad. But, it seems like you're doing the reverse. I have a Jetpack and it uses a regular sized SIM, so you would need to get an adapter. Secondly, I'm not sure if it will be viable once switched because VZW can detect your iPad. When I switched my iPad and Jetpack SIMs, my online account automatically pointed to me using my iPad for the data.
Or just call VZW and ask them.