Rotary cutting tool and reversible cutting insert therefor

A cutting tool (58) rotatable about a tool axis (A3), comprising a cutting body (60) and at least one reversible indexable cutting insert (20), each cutting insert (20) removably secured in an insert receiving pocket (62) of the cutting body (60), and each cutting insert (20) comprising:

• opposing first and second end surfaces (22) interconnected by a continuous peripheral surface (24), with a median plane (M) located between the first and second end surfaces (22) and intersecting the peripheral surface (24) to form an insert boundary line (Lb), and an insert axis (A1) perpendicular to the median plane (M) about which the cutting insert (20) is indexable,
• the peripheral surface (24) including at least three side surfaces (26) alternating with at least three corner surfaces (28), with each corner surface (28) having a corner bisector plane (Pc) containing the insert axis (A1), and
• the side and corner surfaces (26, 28) intersecting with both the first and second end surfaces (22) at side and corner edges (40, 42), respectively, with each side edge (40) having a major cutting edge (44), and each corner edge (42) having a corner and minor cutting edge (46, 48),
• wherein, in a side view of the cutting insert (20), each major and minor cutting edge (44, 48) slopes away from first and second end points (E1, E2), respectively, of its mutually associated corner cutting edge (46), towards the median plane (M), and
• wherein a first imaginary straight line (L1) extending perpendicular to the median plane (M) and intersecting any one of the corner cutting edges (46) at any point along its length except the second end point (E2), passes through the median plane (M) inside the insert boundary line (Lb).