Coconut oil, a saturated fat, has been shown to have significant medicinal benefits. Although unsaturated fats are usually considered healthier, recent studies have found that coconut oil lowers levels of unhealthy fat in the body and promotes weight loss. Its anti-inflammatory and antioxidant properties also make it beneficial for the entire body when taken in capsule form. 
A 2013 study published in "Food and Function," compared the antioxidant effects of virgin coconut oil, refined coconut oil, sunflower oil and olive oil. Researchers, utilizing lab rats, measured antioxidant activity in the liver, heart and kidneys; the formation of lipid per-oxidation; and protein oxidation. Across the board, in these experiments, virgin coconut oil turned out to be the most powerful antioxidant. These studies indicate CO eliminates the free radicals that cause long-term organ damage, aging and cancer.
Coconut oil is also excellent for cooking.