Think about comfort.

With an undermount, will the tub deck have overhang that could get you in the neck?

As to "benefits of installation", a drop in is easier to install and replace if needed.

If you get too splish-splashy in the tub, then the overhanging deck of an undermount might contain water a bit better.

Style-wise, I think undermounts look a bit more slick, and possibly, more contemporary.

Personally, I prefer drop-ins. Both from the installation and use points-of view. And style. I like the vertical-ness of the rim above the tub deck.