You wouldn't need an extra SIM card, just the pre-paid plan. The only plans that work with this are Straight Talk $45/30-Day Unlimited or $60/30-Day Unlimited International service plans.
I agree with what Jarryed has said.
Allow me to add, however, --and I'm not a Straight Talk employee nor necessarily trying to push their products-- that the Straight Talk plans seem to have more bang-for-the-buck. Yes, Verizon's Prepaid has "bridge data" so you can customize but take a close look at the comparison.
And, by using this phone with Straight Talk, you'll have the exact same coverage footprint as you'd have with Verizon's Prepaid plans. This phone will use the Verizon "native" network but Prepaid Verizon customers also are limited to the "native" network ...in other words, no roaming at all as coverage will be only on Verizon-owned towers. Only Verizon contracted customers get roaming privileges.
Also, no phones on Verizon's Prepaid plans will have access to 4G LTE so once again, Straight Talk service with this phone will mirror Verizon Prepaid in being limited to 3G data speeds as only Verizon contracted customers will have access to 4G LTE.
In addition, Verizon Prepaid has defined data that is hard-capped. By comparison, Straight Talk gives you unlimited data with a soft-cap at 2.5 GB.
Sorry, but you cannot use this phone on Verizon's own prepaid plans.
This phone does use Verizon but it is locked to using Straight Talk service cards. Straight Talk will not unlock the device either.