Euphemism for sex. Gimmick is a catch-all word that ultimately became a nickname for penis, hence slipping someone the gimmick would be slipping a girl your penis.
Term used at auto dealerships to describe supplemental health insurance that is sold during the part of the sale where the financing is arranged. This type of insurance would make your payment if you are sick or injured, it is a source of "back end" profit" for the dealer.
"That customer was a total lay-down; he bought Slip & Trip, Choke & Croak (a similar life insurance) and Rust & Dust (paint protection)