Indexable cutting insert for a side milling cutter

An indexable cutting insert for a side milling cutter having two insert surfaces facing away from each other and four cutting edges located at opposite ends of each of the two insert surfaces, and a planar free surface extending from each of the four cutting edges to the other one of the two insert surfaces, wherein both insert surfaces include a profile comprising a plurality of truncated pyramids arranged in a chess board pattern on the insert surfaces and including a first parallel row of a plurality of V-shaped recesses between the plurality of truncated pyramids and a second parallel row of V-shaped recesses between the plurality of truncated pyramids, the second parallel row of V-shaped recesses perpendicular to the first parallel row of V-shaped recesses, and wherein two cutting edges on opposite ends of each of the two insert surfaces are perpendicular to the first parallel row of V-shaped recesses, and wherein the other two cutting edges on opposite ends of each of the two insert surfaces are perpendicular to the second parallel row of V-shaped recesses, and wherein a planar rake face is provided between the profile and each cutting edge.