The continued development of BaTiO3-based multilayer ceramic capacitors has contributed to further miniaturization by reducing the thickness of each dielectric layer for different voltage range components. MLCC designs that achieve higher volumetric capacitive efficiency must be balanced with stable properties over long operational times at higher fields and temperatures, raising concerns about their reliability. To improve the reliability and slow transient mechanisms of oxygen vacancy electromigration that drive the degradation of insulation resistance of MLCCs, we need to develop new models and improved metrologies to enhance the performance of MLCCs. This paper demonstrates how electrical characterization techniques, such as thermally stimulated depolarization current and highly accelerated life test, can be used to better understand MLCCs' degradation and assess their reliability. Also, the limitations of existing lifetime prediction models and their shortcomings of using mean time to failure in predicting the lifetime of MLCCs are discussed along with future perspectives on evaluating the reliability of MLCCs.

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