Yeah, way more than POS offering, but 4 device replacements over 2 years versus 2, plus you do not pay all upfront, and can cancel at any time.
It is not clear to me from the sample terms whether or not you can continue to pay the 5/month for continued coverage after 2 years, and the terms make it hard to believe you'll get a new phone sent out within the one business day the promo materials mention.
This plan is from a different provider than the POS offering, and am guessing that when you run insurance company like numbers for pay all in advance versus monthly, the odds all change a bit.
Since theft and other loss are not covered, I'm gonna look into other offerings before going with this. Seems too expensive.