Power electronics and in particular power converters, have a pivotal role in multiple expanding fields like: Electric mobility, renewable energy integration, microgrids, and smart grid technologies. Reliability for power electronic converters is a significant concern since, compared with other electrical modules, are characterized by a higher failure rate, as reported in different field reviews. The consequences of a converter failure are not only limited to the downtime of the system and potential damage to downstream components. It can also pose a threat to the safety of the system. Those reasons made the lifetime management of power converters an increasingly studied field.