Well ya see, with tumble on death you still play the death animation. Therefore every time you die you do a back flip and then turn around and land facing the other direction. This isn't very visually satisfying or realistic. Also when you're tumbling you're body moves somewhat freely depending on how you rotate. So by disabling the death animation It'd make tumble on death more realistic and visually satisfying.
[edit] No the player object isn't deleted and recreated it's just plays the death animation. Also if you were to do that it'd create unecessary complications.