Verizon's new feature will let you have multiple phone numbers on a single device.
My Numbers from Verizon lets you add up to four additional phone numbers to a single Android device or iPhone, each with unlimited domestic calling and texting as well as voicemail. Each virtual number costs $15 per line per month.
You can choose the number you want, but the selection is limited to the U.S. numbers and area codes available at that time. Once you've got a number set up, you can customize the name, icon, notification tones, and ringtones so you can easily identify which number is being called.
Verizon's My Numbers feature could be useful for folks who want separate phone number for business and personal use, or for folks who have a side business that they want to dedicate a phone number to. Plus, it's a good bit cheaper than adding a full line to your Verizon account, especially if you'd have to get a new phone to do so.