https://www.verizonwireless.com/prospect/bring-your-own-device/#/ notes such a thing but not all phones can do this. You'll have to ask Verizon to give you an answer.

A second issue that pops up all too often is if the old phone has a lock of some kind. This can be the old "locked phone" to an IMEI lock where the phone was subsidized and the owner has not finished paying on the plan. These locks are well known but there's always someone that will try to get their 99 dollar iPhone over on another carrier and the block can not be removed. Long discussions why this is.