That works! So I was basically doing it in the wrong view. I was creating a blueprint, using the Mesh as the Root Component, and assigning the material there. Double-clicking the static mesh in the Content Browser allowed me to assign the material to all LODs as in your picture! Thanks!
thx for clarification, but what would i do, when the mesh that i use, uses different materials all over the level and therefore needs different lod mats also?