Heat olive oil in a large skillet over medium-high heat. Add the ground turkey and cook, breaking it apart with a spoon as it cooks, until browned and cooked through, about 5-7 minutes. While the turkey browns, dice the onion and red pepper, chop the yellow pepper, and prepare all your other ingredients so everything is ready to go. I like to do this prep while the meat cooks to save time—it keeps the momentum going.
Transfer the browned turkey from Step 1 to your slow cooker. Add the diced onion, chopped peppers, tomato sauce, diced tomatoes, black beans, kidney beans, jalapeños, and corn. Sprinkle in the chili powder, cumin, and smoked paprika, then stir everything together thoroughly to distribute the spices evenly. Season with salt and pepper to taste—I recommend starting with 1 teaspoon of salt and ½ teaspoon of pepper, then adjusting after cooking since flavors concentrate in the slow cooker.
Cover the slow cooker and cook on high for 4 hours or on low for 6 hours. The longer, slower cook on low will develop deeper, more complex flavors and give the spices more time to meld together, so that's my preference if you have the time. During the last 15 minutes of cooking, give the chili a taste and adjust seasonings as needed—add more salt, pepper, or chili powder depending on your preference.
Ladle the finished chili into bowls and serve hot with your favorite toppings such as shredded cheese, sour cream, diced onions, fresh cilantro, or crushed tortilla chips.