(Update: now live!) T-Mobile's new Jump! On Demand program will let you upgrade your phone 3x per year

Update (6/29): If you’re interested in getting the latest and greatest smartphone (up to three times per year), you’ll be happy to know that T-Mobile’s new Jump! On Demand program is now live in-store. Although this offer isn’t for everybody, Jump! On Demand offers users a great way to upgrade their aging devices without having to purchase a new phone off contract.

If you’re interested in signing up, head on over to the nearest T-Mobile store and tell the representative that you’d like to sign up. Are you signing up for the new program? If so, let us know in the comments!

Original post (6/25): T-Mobile’s Jump! early upgrade program has been around for awhile now, allowing users to upgrade their devices early as long as they pay a premium every month. As part of its recently-announced “Un-carrier Amped” initiative, T-Mobile has just introduced an upgrade to the Jump! program, which might prove useful for many consumers out there. It’s called “Jump! On Demand”, and the premise is actually quite simple.

Once you sign up for the new program, T-Mobile will give you a brand new smartphone at no extra cost, as long as you agree to lease the device monthly like you would on any other payment plan. If you want a new phone at any time, T-Mobile will let you upgrade up to three times per year. You’ll need to trade in your current phone, which must be in good condition, but that’s really one of the only caveats here.

Now instead of having to pay the $10 premium each month for the ability to upgrade early, if you sign up for the plan, you’ll just need to pay the monthly cost for your device (and the cost of your plan, of course). So to clarify, you’ll owe no upgrade fee, no taxes on the new phone, and no additional monthly fee. This is certainly a great plan for someone who always wants the latest and greatest, but if you’re someone who likes to hold on to your old smartphones, this isn’t the deal for you.

Jump! On Demand will launch Sunday, June 28th, and will unfortunately be available for only a few smartphones at the start:

• Apple iPhone 6 (16GB)
• Apple iPhone 6 Plus (16GB)
• Samsung Galaxy S6 (32GB)
• Samsung Galaxy S6 Edge (32GB)
• LG G4
• Samsung Galaxy Note 4

It should be noted that if you receive a smartphone through Jump! On Demand and choose not to upgrade early anymore, at the end of your 18-month lease, you can go about it three different ways. Either you can turn in the smartphone (in good condition) and pay nothing more, upgrade to your next phone and start a new plan, or pay off the remaining balance on your device and keep it. If you want to keep the smartphone, the “final payment” equals the total retail cost of the phone, minus what you’ve paid on it so far.

There’s a lot to digest here, so if you have any questions, feel free to leave a comment below. And be sure to stay tuned for more Un-carrier Amped announcements in the coming weeks.