The reason why iodine is the best living group among halogens, is that the C-I bond energy is the smallest of this series, and C-F bond energy is the largest. In this family of compounds, steric hindrance is nule, plays no role.
You should also be aware that Iodide is also a very good nucleophile and so in some reactions you may experience complications due to the eventual consequent nucleophilic attack by I-