SQL Alternative to Function and Stored Proc for Dynamic SQL

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SQL-Server-2008R2

I have the following code, I want to find a way to execute the code in the [Code] field. I wish I could use a Function but it would require Dynamic SQL and I wish I could call a stored proc in the Select statement but I can't do that either. I need to avoid doing a Loop since there will be hundreds of these records.

SELECT Coverage, N'SELECT ' + ISNULL(Limit COLLATE SQL_Latin1_General_CP1_CI_AS, '''''')     + N',' + 
    ISNULL(Deductible COLLATE SQL_Latin1_General_CP1_CI_AS, '''''') + N',' + 
    ISNULL(Premium COLLATE SQL_Latin1_General_CP1_CI_AS, '''''') + 
    N' FROM PHI_PIJ.dbo.ASBYCPP' + N' WHERE ' + PolicyNum COLLATE SQL_Latin1_General_CP1_CI_AS +
    N' = ' + QUOTENAME('BOP000249316', '''')  + N' AND BYAOTX' + N'=' + QUOTENAME(Coverage COLLATE SQL_Latin1_General_CP1_CI_AS, '''')
FROM PHI_PIJ.dbo.ASBYCPP
INNER JOIN PolicySummary.dbo.Coverage
    ON Coverage = BYAOTX
    AND LOB = 'BOP'
WHERE  BYARTX + BYASTX + BYADNB = 'BOP000059311'

An example of what is in [Code] field is:

SELECT '','',BYA3VA FROM PHI_PIJ.dbo.ASBYCPP WHERE BYARTX+BYASTX+BYADNB = 'BOP000249316' AND BYAOTX='BASIC'