Abstract: A cutting tool, for milling, comprises a holder and a cutting insert. The cutting insert has a generally octagonal basic shape and has at least two cutting edges created by a transition between an upper face and an edge face of the cutting insert. The upper face constitutes a rake face and the edge face constitutes a clearance face, created at the transition of two adjacent cutting edges. The edge face forms a clearance angle of at least 20 degrees with a plane extending parallel to a center axis of the insert. The edge face is provided with a step which defines a fracture zone. The step forms an angle with a line extending perpendicular to the center axis. Cutting corners of the insert are beveled to form an angle greater than an angle formed by adjacent cutting edges.