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For texts = SMS, edit your Profiles, or Sounds and Notifications. Click on the Sounds icon on the top of your homescreen.
For missed calls, it is MY understanding (and I could be wrong) that Verizon does not alert this. On some carriers (like my ATT) I can log missed calls to the messages list and the LED will blink, etc.
If you need continued notification of a missed call, you will need BBAlerts. BByMel Software