That seems like a neat tool, and it looks like it provides a general safety net (SOMETHING IS BETTER THAN NOTHING,) but there is no substitute to good actual legal counsel. Your ToS should actually be designed specifically for the type of business you operate and your company in particular, as a general catch-all variety of ToS will leave alot of loopholes that can be exploited.
I've heard it from many places including some of the successful members on this forum. There is no cheap workaround for getting solid legal advice. It might seem like a big cost upfront now, but it can save you multiples if the worst case scenario happens.