I don't know of any official definition of what .75 years is exactly defined to mean. So unless there's such a definition in your context, the approach you're using seems reasonable. I would suggest rounding the result so there aren't hours and minutes included in the value.
Some might define .75 years to mean 9 months, which suggests:
=DATE(YEAR(A1)+6,MONTH(A1)+9,DAY(A1))
However, if A1 is 5/31/19, the result is 3/3/26, which is counter-intuitive.