Verizon is now offering customers who purchase the Galaxy S7 or Galaxy S7 edge on its payment plan the option to upgrade to the latest model each year. That's right, if you use Verizon's device payment option you will now be able to upgrade to the latest model as long as you meet the criteria. You will need to have your current Galaxy phone active for at least 30 days, and have paid half of the cost of the device off, and then you can hand it in for the new model.

From Verizon's announcement:

The Verizon Annual Upgrade Program means you can turn in your phone and upgrade to any new smartphone every year. You can upgrade 30 days after activating a new phone when more than 50% of the device price has been paid.

Don't want to upgrade? You can still pay your phone off in 24 low monthly payments. That's way better than those "lease plans" offered by other companies. They can surprise you with huge balloon payments just 18 months into your agreement, or make you hand over your phone without getting anything for it.

You can combine this offer with Verizon's 2GB of free data for upgrading on XL or XXL plans, as well as receiving up to $300 off when trading in select phones to upgrade. Is this enough to entice you to upgrade? Let us know your thoughts in the comments.