means for insulating and chilling a canned beverage such as beer or soft drink including a cylindrical cup - shaped liner structure disposed within a conventional foam beverage can holder and lying within a portion of the annular &# 34 ; dead air &# 34 ; cavity between a beverage can situated therein and the side walls of the foam holder . the outer wall of the inner cup wall and the inner wall of the outer foam cup walls define an annular space containing a reusable refrigerant . the reusable refrigerant is a freezable fluid , preferably a liquid chemically treated into a gellatenous state for being frozen in conventional refrigerator freezers . in the frozen state the gel will chill and keep chilled beverage disposed within a container placed within the inner cupshaped liner . the top portion of the liner is constructed for light press fit engagement with the side walls of the foam holder for sealably containing the gel therein in a non - frozen state . a conventional circular plastic ring closes the top intersecting edges between the foam holder and the inner liner and facilitates the entrapment of any dead air between the beverage container and the inner cup wall .