Losing upgrade eligibility without buying a new phone?

I am currently on a family plan, but I'm not the account owner. Our family is wanting to split our plan different ways (the account owner wants to switch vendors), while I am very happy with Verizon and want to stay. We're currently on a Verizon month-to-month. I just got back from a Verizon store where they answered my questions, but there was one that wasn't answered clearly.
I want my own individual plan through Verizon, but I already have a smartphone that I purchased from Verizon (subsidized) 2 years ago, that I am very happy with at the moment and have no desire on replacing yet. My understanding is that I will have to start a new individual contract because I'm no longer a part of the old Family Plan. My main concern is whether I will lose my upgrade eligibility if I do not also purchase a new subsidized phone at the start of my contract. Do I maintain my upgrade eligibility if I start a new contract with my current phone, and can use that upgrade when I am ready in the future? Or do I have to immediately upgrade my phone when I sign a new contract?

You would do an Assumption of Liability for your line - and get on your own plan (if you can live with 2GB data, the $60 unlimited text and talk, and 2GB data single line plan is about the best deal you'll get.) If you re currently out of contract, month to month, then you would be bringing your own phone to the plan, remain month to month and upgrade eligible.

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