I do not work for any food or drug manufacturer, but am studying to be a doctor, so when I endorse a product it is solely because I truly believe it may help you.
This supplement may be taken in capsule form but I find that cooking with it is very easy and lends a distinct flavor the vast majority will find pleasing. When cooking with this product you should use it just like you would butter. In fact, its melting point is around 76 degrees, when it turns from a white solid into a clear liquid. I have used coconut oil in frying (most common use) and baking recipes with great results. However, it should be noted that adding this to vegetable oil for say, deep frying, will cause it to foam slightly do to the water content of the coconut oil I think.
This product is mostly saturated fat, however, contrary to popular belief not all saturated fats are bad. This is a medium chain fatty acid, different from most of the "bad" saturated fats. This is one of the most stable fats you can cook with (360 degree smoking point) and has one of the longest shelf lives, without refrigeration, of any oil due to its high antioxidant content. Important health benefits from this product are cholesterol control, intestinal health, and support for the immune system.The active ingredient, if I may call it that, is lauric acid, giving this oil its immunological properties. There is even a modest amount of an essential fatty acid (linoleic acid) in this product.
Coconut oil may also be used topically as it has many antimicrobial properties. It is great and safe for pets too, and many people use it on their cat with a skin condition. In case you are wondering, that same lauric acid present in coconut oil is used in many soaps and shampoos because it is safe and effective. You probably know its derivate better, sodium lauryl sulfate. Lauric acid is so safe it is even found in mother's milk, with added immunological benefits for baby.
In case you are wondering the other cooking oils most recommended are olive oil, canola oil, and butter (used sparingly, and only compared to margarine). Healthier supplements of essential fatty acids include fish oil, flaxseed oil, or good old fashioned nuts.
If you are as concerned about your health as I am then you watch everything that you put into your body. Many pacific island peoples have used coconut oil predating recorded history with surprising health benefits. That being said, definately add this to your next shopping list.