This is probably not a polychaete. It is likely a teredinid bivalve...or shipworm. There's at least one such clam that finds its' home in seagrass rhizomes: Zachsia zenkewitschi. See: Shipway et al. 2016 in PLoS One. 2016; 11(5): e0155269. Zachsia zenkewitschi (Teredinidae), a Rare and Unusual Seagrass Boring Bivalve Revisited and Redescribed
@Robert, thanks alot for the information, this really help clear up the confusion. From the reference, the morphology do reassembly each other. Will look into this. Appreciate your help.
This is definitely a Teredinidae, a shipworm. The genus that bores in to seagrass is Zaschia as Robert says. The little structures on either side of the siphon are called pallets and their morphology is used for species identification.
It is great that you found this species. I suggest you save at least the pallets, but preserving the whole specimen in 95% ethanol would be good as you might want to do molecular work on it at some point. Best Regards, Nancy