lip balm vs unction

lip balm and unction both are nouns.

Word	Noun	Adjective	Verb	Adverb
lip balm	Yes	No	No	No
unction	Yes	No	No	No

As nouns, unction is a hypernym of lip balm; that is, unction is a word with a broader meaning than lip balm:

lip balm: a balm applied to the lips
unction: semisolid preparation (usually containing a medicine) applied externally as a remedy or for soothing an irritation

Other hypernyms of lip balm include balm, ointment, salve, unguent.

lip balm (noun)	unction (noun)
a balm applied to the lips	anointing as part of a religious ceremony or healing ritual
	semisolid preparation (usually containing a medicine) applied externally as a remedy or for soothing an irritation
	smug self-serving earnestness
	excessive but superficial compliments given with affected charm