Yes most of that is correct, and there is no pension, no loss of license insurance and the company medical facilities are well……….. You might want to take out a private heath policy.
The education allowance is paid up to a max of BD 2700 per annum per child but only if you have your children in boarding school (away from your base of employment).
The allowance if you have your children attending a school in Bahrain is BD 1660, this allowance will only pay for one term a year in any school in Bahrain, so you will have to pay for the other two terms. Apparently the UAE is even more expensive.