Term used at auto dealerships to describe supplemental life insurance that is sold during the part of the sale where the financing is arranged. This type of insurance would pay off your loan if you die, it is a source of "back end" profit" for the dealer.
"That customer was a total lay-down; he bought Slip & Trip (a similar disability insurance), Choke & Croak and Rust & Dust (paint protection)
by St. Jerome December 9, 2008