yes verizon does give u a new phone every 2 years...well it gave my parents one...and now it will me cuz i have verizon but anyway as for chooseing the phone idk cuz i dont think my parents got to choose but i would really hope u get to choose!!
well u have the new every 2 which gives u a $100 credit towards a new phone. it might make the phone free depending on the phone. so if u chose a phone that is $99.99 with a new 2 it would be free after the credit. but if u go into a store or look at them online it will give u an example of how much the phones are and how much they would be with the credit just subtract the $100.