I finally got the answer I was looking for, and from a good source. A Verizon rep told me that if I upgraded to an iPhone 5, it would necessitate a new contract, and I would have to leave my unlimited data plan behind since it's no longer offered. I found that kind of hard to believe, so I researched it. Though others said this wasn't really true, I couldn't find a source to confirm it. I finally found it.
Apple iPhone fans dilemma: Unlimited Verizon iPhone 4 now or stuck with limited iPhone 5? - International Business Times
One can either keep the unlimited data plan with the iPhone 4, or get a new iPhone 5 - at full price (~$649). Hence the drawback. To get the new phone at $199, one would need to (*drum roll please*) get that new contract.
At least I know that I can always upgrade my iPhone, even though it'll cost me. But my unlimited data plan is mine forever.
Apple iPhone fans dilemma: Unlimited Verizon iPhone 4 now or stuck with limited iPhone 5? - International Business Times
One can either keep the unlimited data plan with the iPhone 4, or get a new iPhone 5 - at full price (~$649). Hence the drawback. To get the new phone at $199, one would need to (*drum roll please*) get that new contract.
At least I know that I can always upgrade my iPhone, even though it'll cost me. But my unlimited data plan is mine forever.
