1 year gap due to illness - Should I state it in Cover Letter?

I wouldn't. You could have been doing any number of things (like travelling) during that year. If it comes up in an interview, then you can address it. Congrats on the recovery.

since you have a current job now and got one after ur illness, i think you should be fine. its not like you havent been working and need to explain it.

Thank you both for your inputs. Before I posted this question, I was leaning toward putting it in my cover letter, as I think employers would prefer not to see any kind of time gap in b/w school, work experience etc. But what you guys said makes sense and I will just leave it out for now, and if they do ask me during interivew, I will tell them.

Thanks both again.

In all honesty I think you should put it in, though keep in mind they may discriminate against you as in "I dont want to hire someone who might get sick again."

I know that is completely unfair and its bullshit but keep in mind that MAY happen.

Congrats on beating it, been helping my friend through as much as i can.

Would not put it in. Leave it out and address it if or when it comes up.

Thanks all for your inputs!

Matty 200 - Yeah, that's what I was afraid of when I was looking for my very first job fresh out of hospital (well, I already started looking when I had only couple cycles of treatments left). Thankfully, my current firm only looked at my academic achievements, good internship experiences etc and did not mind at all the fact that I was ill. Of course, they were somewhat worried about the possibility of me going back to the hospital, but I convinced them that it was cured and I was more than ready to get some hands on experience.

Hopefully I will be lucky again this time.

That is very nice of you to help your friend out through his/her tough time. Trust me, friends/family members like you are what your friend needs the most at times like this. :)

leave it out - no need to bring up unless they bring it up.

It's just me, but I'd look more favorably on you knowing that fact.

With other bankers, your mileage may vary.