@girish I am just finding this thread. I would suggest adding these options:
{ name: '7 daily, 4 weekly, 3 monthly', value: { keepDaily: 7, keepWeekly: 4, keepMonthly: 3 }},
{ name: '7 daily, 4 weekly, 6 monthly', value: { keepDaily: 7, keepWeekly: 4, keepMonthly: 6 }},
The first option is a common backup cycle (I think) and the second option allows for 3 more months of retention (and is halfway between the first and the current 12 month option).