My opinion only, but I think you would do much better by having a bootable clone backup created with CarbonCopyCloner.
In a "moment of extreme need", there is NO backup solution that can beat having an easily-bootable backup drive "close-at-hand". You will be back up in running within two minutes....
Personally... I think this is poor advice.
I have nothing against bootable clones... they are fantastic at what they do... but they should not be considered backup. They do not have "usable history"... which is one of the most important aspects of a backup strategy. They are invaluable if you need to be up and running on the same computer very quickly.
My recommendation (in priority order)
1) Local backup for quick restore, and deep versioning (I use Time Machine)
2) Cloud based backup for disaster recovery and potentially even deeper versioning. (I use Crashplan+)
3) Clone HDD for quick resume after a HDD/SSD failure.
They build on each other. At a minimum, do 1 & 2. Do #3 if you have the need. Personally, I do not because I have multiple machines that I can use... and the most important data is cloud (and/or LAN) synchronized across machines.
/Jim