Why? Because it’s time to stop over-paying for kids phones already … and your own for that matter. Virgin’s $1 plan comes with unlimited talk, text and data. You also become part of Virgin’s Inner Circle. That means you get access to perks and discounts on flights, hotels, WINE (yes, I’m saying that loudly) and more. If you’re on the fence, don’t wait too long to decide: the sub-Sprint carrier is only offering the deal for “a short period of time.” Virgin Mobile’s “Inner Circle” SIM for the iPhone only works for the 5s and newer models. You can check your device’s eligibility on Virgin Mobile’s website, and once you’ve confirmed that your model is compatible with the plan, you can order Virgin’s Inner Circle SIM. As a nice bonus, you can get the SIM for free until September 29th, after which one will cost you $25. What happens to your plan after a year? Well, you’ll have to start paying a more standard amount — $50 a month — though you can get six more months of service for a buck if you pony-up for a new phone (which start around $280). How can they afford to do this? Here’s what they say on the front page of their website:

First off, you’re not dreaming and this isn’t a practical joke. In fact, if you think about it, the math adds up. We’re not paying for expensive stores or doling out big sales commissions. We’re not throwing money at pop stars and pro athletes. Instead, we’re passing the savings on to you to make sure you’re happy every step of the way. It starts with service for $1 and amazing Virgin perks. But give us a chance, and you’ll see that it’s so much more.