An indexable milling cutting insert includes an opposed outside and inside, a periphery, and a plurality of homologous and alternately individually usable cutting edges, which are equidistantly spaced apart from a center axis, which extends between the outside and inside. The cutting insert includes a plurality of countersunk chip channels, which are delimited by bottoms and tangentially spaced-apart ridges, which individually include a cutting edge formed between a chip surface included in a first chip channel, and a clearance surface, which borders on a second chip channel.