I used it for product photography, and at many times used it like a normal lens when I think 60mm is sufficient for me. Meaning it can be used for anything else you want to use it for.
A bit too short for insect macro to be honest, but not impossible depending on what variety of insects. Eg. Large butterflies that do not scare away easily. For smaller and tiny insects - you're better off with longer focal length macro lenses like 105mm VR, etc.
This lens has unique qualities, it has one of the shortest Minimum Focusing Distance to date - meaning you don't have to pull back further to focus on almost any subject. However, you do need to be aware of its other unusual quality as well and that is the "onion peel" bokeh... This doesn't happen all the time, but mostly when there is a strong highlights behind your subject.
If you just want to use it strictly for general photography there are better and cheaper alternatives out there, like maybe the AF-S 50/1.8G or Sigma 50/1.4. This lens is a way too costly for general usage, unless you have other purposes for it like reproduction or product photography.