Heat the oil in a large Dutch oven over medium heat until it is shimmering. Add the onions, peppers, cumin, chili powder, paprika, cayenne and ½ teaspoon of the salt. Cook until the vegetables have softened, about 7 minutes. Stir in the garlic and cook for another 30 seconds.
Add the flour and stir until no raw flour remains and it emits a nutty aroma, about 1 minute. Slowly stir in the chicken stock. Add 1 can of the beans and, using a potato masher, mash the beans in the pot, creating a thicker texture.
Stir in the remaining beans, the chicken, lime juice and remaining salt, and bring to a simmer. Reduce the heat to low and simmer for 20 minutes. Stir in the heavy cream and warm for an additional 5 minutes. Serve immediately with additional lime wedges, shredded Monterey Jack cheese, cilantro or sour cream. Leftovers can be stored in the refrigerator for up to 4 days.
This chili definitely has a kick to it; I would label it as moderately spicy (think "medium" when it comes to store-bought or restaurant salsa). If you prefer something milder, I would omit the cayenne in the recipe. If you want NO spice, then omit the jalapeño peppers, as well.
This chili is an excellent candidate for the crockpot! Prepare the chili as directed up until leaving it to simmer, then transfer it to a slow cooker and cook on low for 4 to 6 hours. Stir in the heavy cream about 30 minutes before planning to serve it.
I go light on the cream in this recipe, but if you want a really, super creamy chili, I've seen many recipes use cream cheese, so you could try adding it to your chili.
You can substitute ground turkey for the chicken, if you'd like. Brown it along with the onion, peppers and seasonings in step 1 and proceed with the rest of the recipe.
To freeze this chili, allow it to cool completely, then place in a freezer-safe container and freeze for up to 3 months. Thaw overnight in the refrigerator then reheat over low heat on the stove, or in the microwave.