Double-sided, indexable cutting insert with ramping capability and cutting tool therefor

A milling cutter, comprising:

• a shank;
• an upper portion having an insert pocket, the insert pocket including a bottom seating surface, a radial seating surface and an axial seating surface;
• a cutting insert mounted in the insert pocket, the cutting insert including a first surface, a second surface opposite the first surface, a countersunk bore extending entirely through from the first surface to the second surface, a first pair of opposing side surfaces defining a planar seating surface, and a second pair of opposing side surfaces including a planar seating surface, each of the second pair of opposing side surfaces including a first planar facet surface and a second planar facet surface, the second planar facet surface being radially inward with respect to the first planar facet surface, the cutting insert further including a major cutting edge defined at an intersection between each of the first and second surfaces and each of the first pair of opposing side surfaces for a total of four (4) major cutting edges, a minor cutting edge defined at an intersection between each of the first and second surfaces and a first planar facet surface of each of the second pair of opposing side surfaces for a total of four (4) minor cutting edges;
• and a first ramping cutting edge defined at the intersection between the second surface and the first planar facet surface, and a second ramping cutting edge defined at the intersection between the first surface and the second planar facet surface for a total of four (4) ramping cutting edges,
• wherein the bottom seating surface of the insert pocket is formed at a positive angle with respect to a central, rotational axis of the milling cutter, thereby enabling the cutting insert to perform both milling and ramping cutting operations.