Can i have more information about verizon edge program

What is the deal with Verizon edge program?  Does anyone know that if you have 4 lines on your account if just one person on your account wants to participate in the Verizon edge program, is this possible? or does everyone on your account have to participate.  Also, I have a few more questions, Let pretend I sign up for Verizon edge and do not want to edge up after 30 days with paying at least 60 percent of the phone that I just got off (which I think is kind of pointless)  So I continue paying on my phone for 20 months, then the Verizon edge program is over in 24 months correct?  Then after that, then could I go back to new every two program if I wanted to, after Verizon edge contract ends?  Then I can keep the phone that I paid for correct?  This is all really strange to me.  If I pay full retail price for a phone, I do not want to give it back to Verizon for them to resell.  It sounds like a leasing program to me.  Why would you want the continued payments on a phone, like a never ending credit card bill.  Anyway, all I want the Verizon edge for is get an early upgrade and a payment plan for a phone, then pay off the phone and keep it for the remainder of the Verizon edge plan, then end it.
Also, I do not have very good luck with phones working the entire time, that is what concerns me the most.  I have a s3 currently and it is completely messed up for the past couple of months.  The phone is acting nuts, drops calls, no reception,  cuts out, powers down at 46 percent.  So how is this going to happen if im the Verizon edge program and something happens to my phone, then  I cant put a back up phone on my account for a replacement.?  If the phone is defective and one of the stipulations of the plan is to return your phone in good working condition, then how would one do this is this situation happened?

The Verizon Edge payment option is basically a "leasing" program. The New Every Two program was retired in 2011.

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