In this paper, an electromagnetically induced transparency metamaterial simultaneously coupled with the incident electric and magnetic fields is designed and presented theoretically, whereas its reconfigurability, slow-wave effect, low-loss, and polarization insensitivity are analyzed and discussed principally. Based on the tunable solid-state plasma, there is a transmission peak with a 92.06% transmission at 0.544 THz in State 1 and a transmission peak with a 92.84% transmission at 0.7535 THz in State 2, thus achieving a frequency shift of 0.2085 THz. The maximum group delay, group index, and delay-bandwidth product in State 1 or 2, which are 723.7 ps or 494.7 ps, 1024.1 or 700.1, and 48.5 or 36.1, respectively, and the excellent slow-wave effects are discussed. In addition, the low-loss and polarization insensitivity are realized by rotating the split-ring resonators 180° and twisting the planar structure 90°. Considering the unique features of the designed metamaterial, it can be extensively applied to slow-light devices, communication, sensors, and nonlinear devices.