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T-Mobile - JUMP On Demand .... Is it worth it? or a Ripe off?

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So this is the first time I've ever been with T-mobile and they have their Jump Program.... (Device Leasing & Phone Upgrade in one plan) I bought the iPhone 6 plus (64GB)  last year (September 2015)for my Mom and Dad... And there was a promotion going on that sounded like a sweet deal... We traded in our old smartphone (Samsung Galaxy S4; or any other smartphone qualified for their promotion offer) You pay 18-24 months installment for the device.... most of the new phone comes out to about $30 per month... (but with the promo we paid less, they credit $12 per month, so $18/18 months we thought...not a bad deal; but it's more like $20 per month; still considered cheaper for the iPhone6 plus at the time. (Mental Math in thought...$360+100Trade Value+$108.87down payment = $568.87.) Realistically; including Lump sum $212.70 payout...                    Phone= $781.57 From:  http://pocketnow.com/2015/09/23/t-mobile-five-dollar-iphone-6s Here's the stuff they