Verizon has released an update to the company's MORE Everything plans, which aims to provide more value and savings to subscribers.

Starting Feb. 5, the MORE Everything plans of Verizon will add an additional 1GB worth of data for users who have data allowances of 1GB to 3GB for a monthly fee of $40 to $60. A new MORE Everything plan that will have a data allowance of a total of 6GB will also be launched for a monthly fee of $70.

New options for 12GB, 14GB and 16GB data allowances for the MORE Everything plans will also be added by Verizon, allowing users with higher data usage requirements to watch more videos or download more files.

For a limited time, subscribers with MORE Everything plans with data allowances of at least 6GB will have the ability to add smartphones through Verizon Edge for a monthly fee of $15, after an access discount of $25 per line.

The Verizon Edge program allows users to acquire smartphones to be paid over installments spanning 24 months. The program also allows users to upgrade more often, with all upgrade and activation fees dropped.

With the new promotion, users with two smartphones on Edge with a shared data allowance of 6GB will only require a monthly service charge of $100.

In addition, there is an across-the-board $10 discount on the monthly bill for users signing up for a 500MB, 1GB or 2GB plan with a two-year contract.

"Just about a year ago, Verizon Wireless expanded what customers experience with a shared data plan when we introduced MORE Everything on the best 4G LTE network," said Verizon chief marketing officer Nancy Clark, adding that with the company as the market leader, Verizon retains its commitment to providing its customers with value that follows the lifestyle needs of users.

Also for a limited time, new MORE Everything customers who transfer their previous number from another carrier and then activate a new smartphone under Verizon Edge will be receiving one-time bill credits of $100 each.

Is the new MORE Everything plan really as money-saving as Verizon says? CNET broke down the plan and came to the conclusion that, from a purely financial standpoint, the MORE Everything plan is not really a great offer.

The MORE Everything plan with a 10GB Edge plan will cost four people a total $180, or $45 per person, excluding the cost of the device. Compared with an offer from T-Mobile, four people signing up for service will also cost $45 per person. However, under T-Mobile, data is unlimited.

CNET points out that the cost of the service is not all that should make up the decision of users, as there is a variety of other factors that should be considered such as service quality and coverage areas.

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