Use count(*)
declare
cnt integer;
begin
SELECT count(*) INTO cnt
FROM people
WHERE person_id = my_person_id;
IF cnt > 0 THEN
-- Do something
END IF;
Edit (for the downvoter who didn't read the statement and others who might be doing something similar)
The solution is only effective because there is a where clause on a column (and the name of the column suggests that its the primary key - so the where clause is highly effective)
Because of that where
clause there is no need to use a LIMIT or something else to test the presence of a row that is identified by its primary key. It is an effective way to test this.