There are 2 main types of coconut oil:
1. Standard coconut oil
2. Virgin coconut oil
Even though processed differently, both contain over 90% saturated fats.
Saturated fats are bad for your health because they increase your "bad cholesterol" and the risk of heart disease. Cutting down on saturated fats can reduce your risk of heart disease by 17%.
The current evidence on coconut oil shows:
Coconut oil raises your cholesterol levels, including both your good and bad cholesterol.
When compared against other types of commonly used oils, some studies found a smaller rise when coconut oil was used as opposed to butter. However, coconut oil still resulted in a greater rise in cholesterol, as compared to taking unsaturated fats such as olive oil.
As such, "…frequent use of coconut oil should not be advised due to existing knowledge regarding saturated fatty acids and heart disease."
To sum up, a doctor will NOT advise you to take coconut oil daily for health benefits, nor do you have to cut it out completely. You can include it in your diet as part of a well-balanced diet, which includes vegetables, fruits, whole grains, and unsaturated fats.