Looking to save some money on your family's wireless bill? Verizon today introduced a new prepaid family account option you might want to consider.

If you have one prepaid monthly smartphone through Verizon, you can now add up to four additional prepaid lines to your account. You'll get a discount of $10 to $20 for each of those additional lines, depending on whether you choose the 3GB, 7GB, 10GB, or unlimited plan. Check out the chart below for pricing details.

So, you'll save $10 per additional line on the 3GB plan, $15 per additional line on the 7GB plan, and $20 per additional line on the 10GB and unlimited plans. You can, for instance, get three lines with 3GB each for $100 per month, plus taxes and fees—$40 for the first line and $30 for the second and third. Meanwhile, Verizon pointed out that a family of five can save up to $80 per month with the 10GB or unlimited plan.

Each member of the family will have their own data allotment, so you don't have to worry about Jan eating through everyone's gigabytes watching cat videos on YouTube. Best of all, you don't have to sign an annual contract, and Verizon won't run a credit check.

"Now you and four members of your family can get onto one prepaid plan and say goodbye to creating separate accounts for everyone," Verizon's Executive Director of prepaid Ron Zanders said in a statement. "Combine that with the flexibility of mixing different prepaid plans to fit each member of your family and Verizon prepaid family account is a really great value."

Verizon in April first introduced its unlimited prepaid plan. It includes unlimited data, talk, and text for $80 a month but the down side is that you can only stream videos at up to 480p.

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