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FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

Report of Foreign Private Issuer

     Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934

For the month of December, 2008

Commission File Number 001-15266

BANK OF CHILE
(Translation of registrant's name into English)

Ahumada 251
Santiago, Chile
(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F___X___ Form 40-F

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(1): ____

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(7): ____

Indicate by check mark whether by furnishing the information contained in this Form, the
registrant is also thereby furnishing the information to the Commission pursuant to Rule
12g3-2(b) under the Securities Exchange Act of 1934.

Yes____ No___X___

If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82- ________

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BANCO DE CHILE
REPORT ON FORM 6-K

Attached is an English translation of a letter filed by Banco de Chile to the Chilean Superintendency of Banks and Financial Institutions, Chilean Superintendency of Securities and Insurance and local stock exchanges, in connection with an agreement entered by Banco de Chile and Banchile Seguros de Vida S.A. for Debtor's Life Insurance.

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Santiago, December 30, 2008

Mr. Gustavo Arriagada Morales
Superintendent of Banks and Financial Institutions

Ref: ESSENTIAL INFORMATION

Mr. Superintendent:

Pursuant to articles 9 and 10 of the Securities Law No. 18,045 and chapter 18-10 of the Compilation of Regulations of the Superintendency of Banks and Financial Institutions, I do hereby inform you, as essential information, that Banco de Chile and Banchile Seguros de Vida S.A., have entered into an Insurance Agreement for Debtor's Life Insurance, which sets particular conditions of Debtor's life insurances contracted by Banco de Chile for its own debtor’s portfolio with Banchile Seguros de Vida S.A.

Banchile Seguros de Vida S.A. is a related company to Banco de Chile pursuant article 44 of Corporations Law and the Board of Directors of Banco de Chile has determined that price and other terms of this transaction are adjusted to market conditions habitually prevailing in this market.

Sincerely,

Fernando Cañas Berkowitz

President and CEO

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