Use Raw for that. Everything in the unscented tin is ordinary lip balm material, and one of the ingredients is what most lipstick is actually built on. The scented tins are a different answer, because fragrance oil is not flavour oil, and lips end up in your mouth.
Why the base is fine on lips
Read the list against any lip balm on a shop shelf and it is the same cupboard. Beeswax is in nearly every one of them. Shea butter and coconut oil are standard. Castor oil is the backbone of most lipstick, which is exactly why it is in here: it is thick, slightly tacky and it stays put. Jojoba is close to your own sebum. Tallow is the odd one out only because it is unfashionable, not because it is unsuitable. The full list and what each one does.
There is also no water in it, so there is no preservative system to think about.
Why I point you at Raw and not the scented ones
Fragrance oils are formulated and tested for use on skin at the rates we use. That is not the same certification as being fit to swallow, which is what flavour oils carry. Nothing about a scented tin is dangerous on your lips, and if you have used one that way, nothing is wrong. It is simply that I have an unscented tin sitting right there, so I am not going to tell you the scented one is the better choice for that job.
How it behaves
Thicker than a stick, so warm a small amount between a fingertip and your thumb until it goes clear before you put it on. It lasts noticeably longer than a wax stick because there is more fat and less wax in it. It is not glossy, and it does not have the slippery feel of a petroleum based balm. How that compares.
Cracked corners and winter
Splits at the corners of your mouth are usually a wet and dry problem rather than a dry problem, and licking is what keeps them going. A balm helps by putting a barrier over the skin so it stops cycling. If a split is not closing after a week or two, that is worth a doctor rather than more balm. Winter dry skin.
One tin doing two jobs
The same tin will do your hands and your lips, which is most of the point of a tin like this. The only sensible caution is the obvious one: do not go from something filthy straight back into the tin, and take balm out with a knuckle or a clean fingertip.
Made by hand in small batches in Wakarusa, Indiana. Seven ingredients, and 5% of every sale goes to FreedomSystem, which connects veterans through authentic camaraderie and meaningful programs.