We don't know your current situation, so can't comment on what you should do, I can only comment on what I would do.

I would've paid the taxes and cashed out the lot. then reinvested all of it and get back to work as if nothing happened.

If you have an existing business or a flexibond you will have a better return putting your money into those vehicles rather than an annuity. With a bond paid off you will have extra cashflow from rental money. You could use the extra cashflow and lumpsum amounts to buy more property and scale your portfolio.

I always have the view that you should treat unearned windfalls (insurance, inheritance etc) as money that should be dedicated to long term investments. Never spend the capital, this money should not be used for vacations, cars, furniture or other things that will cost you in depreciation, time, storage and general effort. It should be reinvested and forgotten about as if it didn't exist in the first place, then get back to work as per usual.