Of course you understand the logical fallacy of having a 'low battery' light come on when the battery is dead; where do you get the energy to run the light?
Assuming you solve that problem or are okay with a 'battery good' light, the only simple way to do such a thing is with a voltage comparator... but that's only effective on lead-acid batteries. You didn't tell us what battery chemistry you are using.
For actual money, you can buy IC chips that are designed to monitor batteries; see the Digi-Key or Mouser catalogs.
Mike Halloran
Pembroke Pines, FL, USA