I get chapped lips like I get chapped hands and I bought Burts Bees wax after reading some really good reviews about it.
It tastes like liquorice and I don't like liquorice, but it works so I use it. The even odder thing about this is that when you apply it, your lips tingle.
I don't know what ingredients are included in it's making, but whatever they are they work and I have it in my pocket at work and my bag whenever I'm out. I wouldn't use anything else on my lips now - not even vaseline.
It's not greasy and it stays ON your lips for a very small amount of time before sinking in and making your lips feel protected. Especially good for recovering softness if you've suffered from chapped lips for a while. I would certainly recommend buying this despite it's reasonably high price tag - I know vaseline for one is cheaper - but for something that works within seconds, this is spectacular.