The company, which will begin taking preorders for Apple Inc.'s smart phone on Thursday, says a basic voice plan including 450 minutes per month will cost $40.
A voice and text plan including unlimited text messages will start at $60 per month. And a separate data plan for getting e-mail and the Web will cost $30 per month.
Verizon says customers will also be able to use the iPhone as a Wi-Fi hotspot for an extra $20 per month.
The company is setting aside a limited number of iPhones for those who already subscribe to Verizon. It will begin taking preorders from existing customers at 3 a.m. on Thursday.