How to bypass Touch ID provided access to the iCloud account? If a user has Touch ID on. Then he loses his finger, or dies. How to unlock the phone? Provided he or his family know the iCloud password.
Since you have the iPhone password you can unlock the iPhone.

Without the iPhone password (or the finger...) (even if you have the Apple ID password) you will not be able gain access to the phone. You can however wipe the phone and use the Apple ID to unlock the phone from Activation Lock.

Since you have both you can you can wipe the phone and start from new.