I have two sets of reef points, one reducing the sail area 20% and one reducing it 40%. I don't recall in recent years using the second set, but if a big T storm set in, I would go down to the second set with no jib. From there I could use a fisherman's reef (main luffing along the luff, but full astern). I try to always carry some sail.

Be aware that there are no standards for reef points as to how much sail is dropped. The way I settled on my 20%/40%, as I recall, was by asking the sailmaker what ocean sailors did, and was told that they have three sets, at 15%, 30% and 45%. With two, I split the high number, more or less.

Remember that it is not just the sail area that is reduced but the height of the remaining sail area on the mast. This eases the torque.