For the last time, you're paying 70 a month for the contract which includes the price of the phone! That's what teh device payment means. Subtract 27 out of 70, that leaves you with the service cost.
If you thought your service costs 70 a month, that is sheer nuttiness.
He's apparently on the Verizon loyalty plan that was introduced a couple of years ago.
https://slickdeals.net/f/7150812-ve...vailable-to-all-with-no-hoops-to-jump-through
Personally I think $70 is a lot to pay for service (I'm on the TMO 5GB plan for $26) but if Verizon's coverage works for the OP, more power to him.