T-Mobile is once again trying to lure away customers from a bigger wireless provider, this time offering to pay off the remaining iPhone (or Google Pixel) payments for Verizon customers willing to jump ship… and also willing to toss away $15/month on insurance.
T-Mobile is launching a limited time promotion on May 31 that will pay off any remaining balance Verizon customers have remaining on their Google Pixel or iPhone devices when they switch to the UnCarrier.
You’ll have to pay off the balance yourself first. Within about 15 days, T-Mobile says it will send former Verizon customers a prepaid digital MasterCard for whatever amount they had to pay off, “whether you owe $1 or $1,000.”
Devices eligible in the promotion include: iPhone SE, 6s, 6s Plus, 7, 7 Plus; and Google Pixel, Pixel XL.
There is one caveat: You’ll have to purchase a $15/month Premium Device Protection Plus insurance plan, which, among other things, includes protection against loss, theft, accidental damage, McAfee ID Protection, and McAfee Content Protection.
The company says wireless customers have wasted more than $1.6 billion trading in phones that work perfectly fine when they switch networks, and the company wants to change that.
“There is no such thing as a Verizon Pixel. It’s just a Pixel, and today, many of the most popular smartphones, including the Pixel, work great on all networks,” the company said.
T-Mobile also has an offer for AT&T and Sprint customers, though it’s slightly different: The company will pay off the balances or early termination fees for customers who switch from those carriers, but you’ll have to finance a new device with T-Mobile.
However, unlike before, you won’t have to trade in your phone. Instead, it’s yours to keep, sell, or give to your mom so she can finally join 2017.
The offer is different for AT&T and Sprint customers because devices on those networks “won’t work right away on T-Mobile’s network.”

Editor's Note: This article originally appeared on Consumerist.